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MISSION ECONOMIC DEVELOPMENT CORPORATION

 MISSION ECONOMIC DEVELOPMENT CORPORATION

NOTICE OF INTENTION 

TO UNDERTAKE A PROJECT OR PROJECTS

TAKE NOTICE that the Mission Economic Development Corporation (MEDC) of the City of Mission, (the “MEDC”), shall convene not earlier than 60 days after first publishing this notice and shall consider authorizing and undertaking a Project or Projects, as hereinafter described, pursuant to the provisions of V.T.C.A. Local Government Code Sections 505.001 et seq. However, no funds will be expended earlier than 60 days after first publishing this notice. The MEDC is authorized on behalf of the City of Mission, Texas to undertake the Project or Projects by paying the cost of the Project or Projects with sales tax revenues authorized under said Local Government Code sections.

The Board of Directors of the MEDC will determine whether the Project or Projects will be undertaken and whether it will finance the cost of the Project or Projects with proceeds from sales tax revenues.

The Project or Projects shall consist of the following: A) An economic incentive for a commercial development facility to be located at 301 North Shary Road, Mission and to be paid between the City of Mission and Mission Economic Development Corporation, in an amount not to exceed a total of $280,000, to be paid over a period of four (4) years;

B) A sales tax rebate economic incentive for a retail facility to be located at 203 West Expressway 83, Mission, Texas, to be paid between the City of Mission and Mission Economic Development Corporation, in an amount not to exceed a total of $150,000, to be paid over a period of three (3) years; and 

C) An economic incentive for a manufacturing company to be located at 805 Trinity Street, Mission, Texas, to be paid between the City of Mission and Mission Economic Development Corporation, in an amount not to exceed a total of $174,000 for a period of five (5) years, with a total of $74,000 to be paid by Mission Economic Development Corporation. 

Date of Publication: September 1, 2023 Anna Carrillo, City Secretary

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