Title
Conduct a public hearing and consider a resolution approving the terms and conditions of a program to promote local economic development and stimulate business and commercial activity in the City; authorizing the City Manager to finalize and execute an economic development program agreement (Chapter 380 agreement) for such purposes with 321 Firehouse GP LLC (the owner of the restaurant) and Frank A. Greenhaw (the Landlord of the premises where the restaurant is to be located) for the development of a restaurant in downtown Mesquite at 105 South Broad Street, Mesquite, Texas; and authorizing the City Manager to administer the agreement on behalf of the City.
Body
The City Council was briefed in Executive Session on July 6, 2020, regarding development of a building at 105 South Broad Street in downtown Mesquite. Council directed staff to proceed with drafting of a Chapter 380 agreement that would provide sales and property tax rebates to 321 Firehouse GP LLC. The developer is requesting a reimbursement incentive based on sales tax and property tax revenues.
The City of Mesquite has been engaged in redevelopment of Downtown Mesquite since 2016-17. In that time, a downtown development manager has been hired, a downtown advisory board was appointed, and Mesquite became the only city in Dallas County to be designated and now nationally accredited as a Main Street community. Dining and entertainment became a priority development segment for the area.
The site at 105 South Broad Street is located in the heart of downtown. The 5,801-square-foot property has been vacant for a significant amount of time. The developer, 321 Firehouse GP LLC, proposes a dining and entertainment establishment that will feature outdoor patio space, restaurant, bar, coffee bar and entertainment space. Target opening date is February 1, 2021. 321 Firehouse GP LLC, currently operates a successful similar business in the downtown of a community in the Dallas-Fort Worth area.
This develop...
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