In February 2013, Mansfield City Council adopted an ordinance to create a Tax Increment Reinvestment Zone (TIRZ) in Historic Downtown. TIRZ No. 2 supports the invest and development of the Historic Downtown core, and its adoption resulted from a comprehensive stakeholder and planning process conducted while writing the Discover Historic Mansfield Vision and Action Plan of 2008.
TIRZ No. 2 provides support for catalytic infrastructure projects that will support the continued revitalization of Historic Mansfield; link the area to a proposed future Transit-Oriented Development (TOD) around the future commuter rail transit station; provide infrastructure and development for the TOD; support the street, sidewalks, trails, and other infrastructure needed for the safe and pedestrian-oriented circulation within Historic Mansfield; improve and remediate key locations that have suffered from life cycle degradation; and provide other support allowed by law for the redevelopment of Historic Mansfield within the TIRZ boundary.