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Council approves amendment to economic‑development agreement for Loan Jack LLC innovation campus
Summary
Council approved an amendment and land conveyance to an economic‑development agreement with Loan Jack LLC, increasing the project's minimum capital investment to $20 million, adding a parcel (Lot 5), and allowing a two‑phase build (145,000 sq. ft. + 50,000 sq. ft.) with adjusted start and completion dates.
The Mansfield City Council unanimously approved a first amendment to an existing economic development agreement and contract of sale with Loan Jack LLC on Dec. 9 that adds Lot 5 (a former gas pad site) to the planned innovation campus, increases the minimum capital investment and adjusts timing.
Jason Moore and economic development staff explained that the original plan (approved in…
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