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Council reallocates developer proceeds, approves $1.3M architect contract to advance Stablet Street project
Summary
Council approved a third amendment to the Mansfield Sports District master agreement to redirect $1.3M of developer proceeds toward a professional services contract with the Beck Group to accelerate design work for the Stablet Street convention center and hotel project; staff emphasized the funds come from developer sales proceeds and TIRZ increment mechanisms rather than the general tax levy.
The Mansfield City Council on Dec. 8 approved a third amendment to the master development agreement with Mansfield Sports District and a companion professional services contract with the Beck Group not to exceed $1,300,000 to advance schematic and construction drawings for phase‑1 of the Stablet Street entertainment district.
Staff explained the third amendment reduces a $2.4 million reimbursement account established from property sale proceeds by $1.3 million; those funds will be used to…
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