A Resolution of the City Council of the City of Laredo, Texas authorizing and approving a fee waiver and a tax abatement agreement between the City of Laredo and Isabel Jimenez for a proposed new construction project located at 918 Laredo Street, Laredo, Texas, Lot 6, Block 555, Eastern Division that consists of new construction of multi-family, in accordance with authorized guidelines and criteria established for the neighborhood empowerment zone (NEZ). 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 $700,000.00, estimated annual tax abatement total of $3,569.03 and estimated total fee waivers of $5,716.00. Guidelines and criteria for the agreement are set forth in the attached agreement and information.

Resolution Agenda Ready Introduced September 19, 2024

What this record is

Amount: $4K
Runs until: September 19, 2034 8 years away calculated from the contract term stated in the record
Type: contract
Field: Construction

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