Page 281 - Mansfieldr FY20 Approved 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 7.21% overall due to
projected increases in project commitments.

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.
• Facilitate the development of a conference center hotel.
• Work with landowners along State Highway 360 to market available tracts for commercial
development.

Goal 3
Attract new opportunities to Historic Downtown Mansfield.

Objectives:
• Work with downtown property owners to effectively market property for new commercial and
retail uses.
• Determine disposition of MEDC owned property at 106 E Kimball.
• Promote Main Street Improvements to attract additional downtown investment.

Performance Objectives
• Develop Mansfield International Business Park.
• Initiate new retail/commercial projects.
• Attract new opportunities to Historic Downtown Mansfield.

281