A Resolution of the City Council of the City of Laredo, Texas in authorizing and approving a fee waiver and a tax abatement agreement between the City of Laredo and AGDL Investments, L.L.C. for a proposed multi-family project located at 117 S Mendiola Avenue, Lot 7, 8, 9, block 914, Eastern Division that consists of new construction, 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 $1,681,600.00, estimated annual tax abatement total of $8,536.19, and estimated total fee waivers of $9,246.46. Guidelines and criteria for the agreement are set forth in the attached agreement and information.

Resolution Agenda Ready Introduced October 18, 2024

What this record is

Amount: $9K
Runs until: October 18, 2034 8 years away calculated from the contract term stated in the record
Type: contract
Field: Construction

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