Public hearing with discussion and possible action to approve a Resolution and Order approving a Webb County Economic Development Grant/Tax Abatement Agreement and Tax and creating of Tax Abatement Zone No. 5 as authorized by Article III, Section 52-a of the Texas Constitution and Chapter 381, Section 381.004 of the Texas Local Government Code by and between Webb County and BACH Holdings, LLC., (d/b/a ALAMO DRAFTHOUSE CINEMA), BACH Development-San Isidro, LLC., and Reel Dinner Partners-Laredo, LLC., for a grant of public money in the form of annual ad-valorem tax abatements for a term of Five (5) years, in exchange for the investment and development of real and personal property improvements in the sum of Eight Million Six Hundred Fifty Thousand Dollars ($8,650,000) and the creation of at least 80 full time jobs on Lot 1, Block 1, San Isidro Alamo Drafthouse Plat, Laredo, Webb County, Texas.
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