2024-R-056
Authorizing and approving a fee waiver and a tax abatement agreement between the City of Laredo and Jose Alvaro Rosales Medrano for a proposed project located at 102 Floral Blvd, lot 1 block 1 Las Flores Subdivision that consists of commercial, in accordance with authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ) 2. This agreement will be for a ten (10) year period and will abate taxes on new improvements for the purpose of economic development. The project has an estimated capital investment total of $2,500,000.00, estimated annual tax abatement total of $13,325.00 and estimated total fee waivers of $2,680.00. Guidelines and criteria for the agreement are set forth in the attached agreement and information. This project is located within City Council District III.
What this record is
- Amount
- $13K
- Runs until
- January 18, 2034 7 years away date calculated from a contract term stated in the record, not quoted directly
- Type
- contract
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Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- City Council
- Requested by
- Building
- Introduced
- January 18, 2024
- On agenda
- February 20, 2024
- Passed
- February 20, 2024
Where it was heard
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