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 Roberto Garza for a proposed multi-family project located at 3502 S. Urbahn Ave., Lot 2, Block X14A, Eastern Division that consists of new construction, in accordance with authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ) 2. 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 $2,939,799.00, estimated annual tax abatement total of $14,923.10 and estimated total fee waivers of $15,185.00. Guidelines and criteria for the agreement are set forth in the attached agreement and information. This project is located within City Council District II.

Resolution Agenda Ready Introduced February 18, 2025

What this record is

Amount: $15K
Runs until: February 18, 2035 8 years away calculated from the contract term stated in the record
Type: contract
Field: Construction

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