OTHERPENDING

Mansfield TIRZ #2 Weighs Smith & Elm Development Deal

The City of Mansfield TIRZ #2 Board is considering approval of a development agreement with Smith & Elm Mansfield LLC for a mixed-use project on a four-acre City-owned site in Historic Downtown. The agreement includes a $1,500,000 land purchase by the developer and a performance-based reimbursement grant from the City not to exceed $5,500,000 over 15 years, contingent on new tax value created. The deal incorporates performance milestones and a City repurchase right if construction fails to commence on schedule.

Status
PENDING
Document date
July 12, 2026
Contract type
OTHER
Vendor
Smith & Elm Mansfield Llc
Agency
City of Mansfield city · TX

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$1,500,000 purchase price; performance-based reimbursement grant not to exceed $5,500,000 over 15 years
Contract type
OTHER
Contract term
Developer to purchase property within 5 months of effective date; reimbursement grant term of 15 years
Renewal
Performance-based reimbursement grant limited to 15 years with a not-to-exceed cap of $5,500,000; agreement includes City right to repurchase property for $1,500,000 if the developer does not commence construction within the specified timeframe. No automatic renewal beyond the 15-year incentive term is indicated.
Document type
Agenda
Source document
City of Mansfield Tax Increment Reinvestment Zone #2 Board Meeting Agenda 2026-07-13

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Mansfield city?

Smith & Elm Mansfield Llc was awarded this government contract by City of Mansfield city, as recorded on July 12, 2026. The contract value is $1,500,000 purchase price; performance-based reimbursement grant not to exceed $5,500,000 over 15 years.

How much is the Smith & Elm Mansfield Llc contract with City of Mansfield city worth?

The Smith & Elm Mansfield Llc contract with City of Mansfield city is valued at $1,500,000 purchase price; performance-based reimbursement grant not to exceed $5,500,000 over 15 years.

What type of contract is this?

This is a government contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Mansfield Tax Increment Reinvestment Zone #2 Board Meeting Agenda 2026-07-13 (Agenda), dated July 12, 2026 from City of Mansfield city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Smith & Elm Mansfield Llc hold?

Smith & Elm Mansfield Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Smith & Elm Mansfield Llc's profile

What is City of Mansfield city currently buying?

Explore City of Mansfield city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View City of Mansfield city's profile

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