2024-R-166
Authorizing and approving a fee waiver and a tax abatement agreement between the City of Laredo and Jesus & Melba Ortiz for a proposed project located at 1220 Mier St., lot 5 block 691 Eastern Division that consists of residential single family, in accordance with authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ) 3. This agreement will be for a five-year period and will abate taxes on new improvements for the purpose of economic development. The project has an estimated capital investment total of $180,000.00, estimated annual tax abatement total of $961.10 and estimated total fee waivers of $763.00. 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
- $961
- Runs until
- April 30, 2029 3 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
- April 30, 2024
- On agenda
- May 20, 2024
Where it was heard
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