2025-R-276
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 Gonzalo Prida Medellin for a proposed project located at 520 Lincoln, LOT 1 BLK 90 WD that consists of Rehabilitation, in accordance with authorized guidelines and criteria established for the neighborhood empowerment zone (NEZ) 8. 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 $674,000, estimated annual tax abatement total of $3,406 and estimated total fee waivers of $3,704. Guidelines and criteria for the agreement are set forth in the attached agreement and information. This project is located within City Council district 8.
What this record is
- Amount
- $3K
- Runs until
- October 1, 2035 9 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
- Economic Development
- Introduced
- October 1, 2025
- On agenda
- October 20, 2025
Where it was heard
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