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.

Resolution Agenda Ready Introduced October 1, 2025

What this record is

Amount: $3K
Runs until: October 1, 2035 9 years away calculated from the contract term stated in the record
Type: contract

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