Discussion and possible action by the Webb County Commissioners Court, for review and possible approval of a Resolution and/or Order approving the entering into a Webb County Economic Development Grant and Ad-Valorem Tax Abatement Agreement as authorized by Article III, Section 52-a of the Texas Constitution, Chapter 312 of the Texas Tax Code, Chapter 381, Section 381.004 (g) of the Texas Local Government Code, the amended Webb County Tax Abatement Policy Guidelines, Criteria and Methodology approved by the Webb County Commissioners Court on November 23, 2015, and as per City of Laredo Ordinance Numbers 2009-0-221, and 2014-0-156 designating the city limits and the extra-territorial jurisdiction located five miles outside the city limits of the City of Laredo as the City’s Tax Abatement Reinvestment Zone for commercial/industrial tax abatements, by and between Webb County and EL PORTAL CENTER, LLC., an Illinois Limited Liability Company, for a grant of public money in the form of an annual ad-valorem tax abatements paid to Webb County, Texas for a term of up to Ten years (10 yrs.), to be based on a percentage of the annual added real and/or personal property value increase over the January 1, 2016 base year ad-valorem tax value for the proposed redevelopment project of the existing retail center formerly known as the “River Drive Mall”, into a retail outlet shopping mall and to operate and maintain the redeveloped retail outlet shopping mall to be known as “The Outlet Shoppes at Laredo” along with associated infrastructure and business’ to consist of approximately 357,901 sq. ft. of leasable retail space to be operated on the real property situated in the City of Laredo, Webb County, Texas, as described herein-below. This grant agreement in the form of annual tax abatements is in recognition of, and conditioned upon and derived from the positive economic benefits to Webb County derived from EL PORTAL CENTER, LLC.’, development of real and personal property improvements and/or expenditures thereon as well as the creation of new construction jobs, and new permanent job creation and retention and other associated economic benefits derived from the redeveloped retail outlet shopping mall project to be located thereon; and any other matters incident thereto.
Situated in City of Laredo, Webb County, Texas, as per the Original Map of the City of Laredo, Webb County, Texas; to wit;
Tract I. - All of Block 24, Western Division
Tract II. - Lots 5, 6, 7, 8, 9, and 10, Block 276-A, Western Division
Tract III. - Lots 1, 2, 3, 7, 8, 9, and 10, Block 23, Western Division
Tract IV. - Lots 4, 5, 6, and 7, Block 281, Western Division, Save and Except the North 20 feet of said Lots 4 and 5
Tract V. – Lots 5 and 6 Block 278-A, Save and Except the West 30 feet of said block
Tract VI. -All of Block 277-A, Western Division
Tract VII. – Situated in Webb County, Texas; Being a 30 foot wide tract of land lying between Blocks 277-A and 278-A, Western Division as Per the Original Map of the City of Laredo, Webb County, Texas;
Tract VIII.- Being a tract of land containing 6,666.60 sq. ft. (0.1530 of an acre) being out of Davis Avenue right-of-way between the south right-of-way line of Zaragoza Street and the north right-of-way of Water Street, this tract of land bounded on the east by Block No. 276A, Western Division, and on the west by Block No. 277A, Western Division, City of Laredo, as recorded in Vol.7, page 15 of the Plat Records of Webb County, Texas (said former street having been closed by City of Laredo Ordinance No. 2004-0-341 dated December 20, 2004.)
Tract IX. - (Meza Lot) Lots 1,2,3 and 4, Block 276-A, Western Division
Tract X.- (Zaragoza Lot) Lot 4, Block 23, Western Division
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