Mansfield council approves Chapter 380 deal to incentivize development at Shops at Broad

Mansfield City Council on Monday approved a Chapter 380 economic development agreement with Tres Shops at Broad LP that ties sales-tax reimbursements to specific investment and sales thresholds.

City staff presented Resolution 25-1569, which covers about 48 acres at the Shops at Broad and targets remaining pad sites for new development. Staff said the agreement requires at least $30,000,000 in capital investment and $50,000,000 in annual taxable sales from qualifying new projects before any reimbursement is triggered. "For this agreement to qualify for any type of reimbursement, those two conditions have to be met," city presenter Moore said.

Moore told council the project is expected to generate roughly $1,000,000 annually in sales-tax revenue to the city, broken down into $500,000 for the general fund, $250,000 to the Mansfield Economic Development Corporation (MEDC), and $250,000 to the Mansfield Park & Public Facility Development Corporation (MPFDC). He said reimbursements to the developer would be based on actual sales taxes received and are capped at $1,500,000, which staff estimated could be paid over about seven years under the grant schedule provided in the exhibit.

After staff presentation, the council moved to approve the resolution. The item carried 6–0. The mover and seconder were not specified in the transcript; the official vote tally was announced by the presiding official.

The agreement is structured as a performance-based incentive: city reimbursements are tied to measured outcomes (capital investment and taxable sales) rather than up-front grants. Staff indicated tenant proposals are listed in the meeting exhibit; the transcript records the projection of taxable sales and the reimbursement cap but does not include contract text or the full grant schedule.

Next procedural steps were not detailed in the transcript; the council did not refer the agreement to an executive session and cast final votes on the item that evening. Any timelines for implementation or developer milestones are contained in the agreement exhibits referenced by staff, not quoted verbatim in the meeting record.

Notes: The transcript contains inconsistent spellings for the developer name (appeared as both "Tres" and "Trez" in different places); this article uses the spelling shown in the agenda line for the resolution. The presenter who described the financial terms is listed in the meeting record as "Moore"; no first name or title for Moore appears in the transcript excerpts provided.