2024-R-176
Authorizing and approving a fee waiver and a tax abatement agreement between the City of Laredo and Corintios Construction and Design Inc., for a proposed project located at 2707 Sanders St., Lot 8 Block 355 Eastern Division that consists of residential (multi-gamily - 4 apartments), in accordance with authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ) 4. This agreement will be for a ten year period and will abate taxes on new improvements for the purpose of economic development. The project has an estimated capital investment total of $460,007.52, estimated annual tax abatement total of $2,438.04 and estimated total fee waivers of $3,683.00. Guidelines and criteria for the agreement are set forth in the attached agreement and information. This project is located within City Council District IV.
What this record is
- Amount
- $2K
- Runs until
- May 6, 2034 8 years away date calculated from a contract term stated in the record, not quoted directly
- Type
- contract
- Field
- Construction
construction contracts in TX that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
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- Committee
- City Council
- Requested by
- Building
- Introduced
- May 6, 2024
- On agenda
- June 10, 2024
- Passed
- June 10, 2024
Where it was heard
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