Title
Conduct a public hearing and consider a resolution approving the terms and conditions of a program (Chapter 380 Agreement) to promote economic development and stimulate business and commercial activity in the City and authorizing the City Manager to finalize and execute an agreement for such purposes with G-MAN Properties, LLC, Gardner Telecommunications, LLC, and The Pickle Juice Company, LLC, for a proposed new industrial development at 3325 Innovative Way, Mesquite, Texas, and authorizing the City Manager to administer the agreement on behalf of the City.
(This item was postponed at the August 20, 2018, City Council meeting.)
Body
Steve Gardner, President of G-MAN Properties, LLC, Gardner Telecommunications, LLC, (GTI) and The Pickle Juice Company, LLC, proposes 100,000 square feet of new industrial space to be constructed on an 8.7-acre tract in the Skyline Industrial Village. GTI, a telecom and fiber optic provider, was founded in 1997 in Mesquite, and has been located in its current Mesquite facility since 2008 at 555 South Town East Boulevard.
The proposed 8.7-acre project is adjacent to the GTI facility and will provide 33,000 square feet for company expansion, 33,000 square feet for the relocation and expansion of The Pickle Juice Company, and provide an additional 33,000 square feet available as commercial lease space. The buildings are designed for light industrial use with 32-foot ceiling clear heights, fully sprinklered, multiple dock doors and a truck court. The current valuation of the land is $570,940 and the projected value of the improvements is $9 million in real property with an additional $3 million in business personal property (BPP) generated by GTI.
The additional facilities will create new real property taxes as well as opportunity for BPP taxes and new jobs created by the new tenants.
The terms of a Chapter 380 Agreement provide City participation in a 50-percent tax reimbursement of new real property and BPP for a period of f...
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