Page 281 - Mansfield 2019 Operating Budget

MANSFIELD ECONOMIC DEVELOPMENT CORPORATION FUND

MISSION STATEMENT:

The mission of the Mansfield Economic Development Corporation (MEDC) is to attract desirable
industries and commercial development to the City of Mansfield while retaining and assisting in the
expansion of existing businesses.

Department at a Glance

The Mansfield Economic Development Corporation is funded by a ½ cent sales tax approved by the
citizens. The tax became effective on July 1, 1997. The MEDC budget increased 10.8% overall. The debt
payment is $456,335 higher in FY 2018-2019 over last year, and the department has a budgeted reserve as
a result of the expected sales tax revenue increase.

Key Goals and Objectives

Goal 1
Develop the Mansfield International Business Park.

Objectives:
• Design and construct roads and water/sewer infrastructure.
• Identify development partners to facilitate development of industrial land.
• Market Mansfield to prospective industrial clients.

Goal 2
Initiate new retail and commercial prospects.

Objectives:
• Continue to work with retail developers to attract new retail to Mansfield.
• Work with landowners in west Mansfield to attract new commercial development.
• Work with landowners along State Highway 360 to market available tracts for commercial
development.

Goal 3
Continue to participate in infrastructure improvements.

Objectives:
• Complete sewer to the north portion of Mansfield International Business Park.
• Coordinate Right-of-Way meetings with property owners and the Engineering Department for the
construction of South Main Street redevelopment.
• Complete construction of Broad Street and Regency Parkway.

Performance Objectives
• Develop Mansfield International Business Park.
• Initiate new retail/commercial projects.
• Continue critical infrastructure projects.

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