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15.

Meeting Date:	12/08/2014
NEZ Program
Submitted for:	Andrea Arellano	Submitted By:	Andrea Arellano, Commissioner Precinct 2
Department:	Commissioner Precinct 2

Subject:

Discussion and possible action to authorize a tax abatement agreement under the Webb County Neighborhood Empowerment Zone (NEZ), Number One Program for the following residential and commercial properties as approved by the City of Laredo, and in accordance to the previously adopted NEZ Webb County Policy and Basic Incentive Guidelines. This agreement will be for abating taxes on new improvements only, for the purpose of economic development. Tax abatement amount will be determined on total construction costs; and authorizing the County Judge to sign all relevant documents. [Requested by Juan Vargas, Executive Director, Economic Development Department]

Address	Term of Abatement

916 Houston St.	10 years
3113 San Bernardo Ave.	10 years
1901 Fremont St.	5 years
902 Laredo St.	5 years
2215 Musser St.	5 years
2219 Gustavus St.	5 years
1010 Juarez Ave.	5 years
1920 San Bernardo Ave.	5 years
901 Iturbide St.	10 years
820 Laredo St.	5 years

Background:

Mr. Ed Ramirez made a presentation at Commissioner's Court regarding the City of Laredo's Neighborhood Empowerment Zone (NEZ) on July 22, 2013.

Previous Court Action:

July 22, 2013, Item #12; May 27, 2014,; Item #18; June 23, 2014, Item #12.

Fiscal Impact

Budget Account Number:	N/A
Funding Source:	N/A
Balance:	N/A
Financial Impact:
No impact to the general fund.