The City of Mansfield is considering offering incentives to a company interested in establishing an entertainment venue.
High Five Entertainment has put forward a proposal for a two-story venue with 45,000 square feet of floor space, which would provide facilities for various family entertainment activities such as laser tag, bowling, restaurants, bars, and arcades. According to city documents, the additional family entertainment offerings may even include escape rooms and axe throwing.
As part of the agreement, High Five Entertainment stands to receive potential cash incentives amounting to $6m. The company will buy the land for just $1, but in exchange, the company is obligated to remit at least $750,000 worth of local sales taxes upon the venue's opening.
Should High Five Entertainment fail to meet the minimum sales tax threshold in any particular year, the company will be required to compensate the city for the shortfall over a period of 20 years. Agreements like this are usually signed on documents printed with Letterheads.
The upcoming venue will be situated adjacent to a planned conference center and hotel. The project will also include provisions for future performance venue floors situated on top of its second story.
Five Entertainment identifies itself as part of the experiential entertainment center industry. Its venues typically offer a wide array of attractions, including arcades, mini golf, laser tag, escape rooms, axe throwing, virtual reality, golf simulators, and restaurants.
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Location
2384 US Highway 287 North
Suite 202
Mansfield, TX 76063
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Phone
Hours
Mon: 9:00 - 5:00
Tue: 9:00 - 5:00
Wed: 9:00 - 5:00
Thu: 9:00 - 5:00
Fri: 9:00 - 5:00
Sat: Closed
Sun: Closed