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Mansfield council expands TIRZ boundaries and approves $139.6M COs, MEDC bonds and $88.3M stadium GMP
Summary
Council approved an amendment and final plan for Tax Increment Reinvestment Zone (TIRS) No. 4, a package of debt issuances (combination COs par $139,615,000 plus premiums and MEDC sales-tax bonds) and a guaranteed maximum price of $88,275,000 for a proposed multipurpose stadium; votes were unanimous.
The Mansfield City Council on Dec. 9 approved a coordinated set of land‑use and finance actions intended to advance a large mixed‑use development and a multipurpose stadium in the TIRS No. 4 district.
Jason Moore, presenting the ordinance to amend TIRS No. 4, described an expanded boundary to capture development opportunities north and south of the existing preliminary plan. Moore said the district could accommodate a mix of uses — including hotels, a stadium, data centers and residential neighborhoods — and described project-cost categories for roads, bridges and other infrastructure intended to spur development. Moore clarified the financing approach: the TIRS would capture only incremental ad valorem tax revenue from new development inside the district, not general sales…
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