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Conduct a public hearing and consider a resolution approving the terms and conditions of a program (Chapter 380 Agreement) to promote local economic development and stimulate business and commercial activity in the City, authorizing the City Manager to finalize and execute an agreement for such purposes with SISERV, LLC, for a proposed new commercial building to be located at 316 West College Street, Mesquite, Texas, and authorizing the City Manager to administer the agreement on behalf of the City.
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Joanne Shields of SISERV, LLC, purchased four tracts of land between College Street and Gross Road within the Central Business District for the purpose of developing a new 5,000 +/- square-foot commercial building, valued at approximately $500,000, to lease to Stage Door Dance.
During the due-diligence process, the storm sewer drainage system was determined to be inadequate for the proper flow of water through the site. A failed existing drainage system, substandard due to the age and condition, requires replacement. The tracts of land receive approximately 80 percent of the water flow from off-site sources within the area; the remaining 20 percent of drainage, as well as additional length needed to accommodate the new structure, is specific to the site. SISERV made a request for City participation in the Central Business District project which was discussed by City Council in Executive Session on July 17, 2017, with an update on August 21, 2017. City Council authorized staff to proceed with a project agreement.
The City's participation in the project is a reimbursement of 67.63 percent of the total cost of the drainage system, not to exceed $115,000, and a waiver of all associated engineering inspection fees, not to exceed $5,872, for a total incentive not to exceed $120,872. A Chapter 380 Agreement, approved by SISERV and reviewed by the City Attorney, will be executed by the City Manager upon completion of a Public Hearing and City Council appro...
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