Presentation by City of Laredo officials regarding a request to support the redevelopment of the El Portal Center located between Zaragoza and Water St. in downtown Laredo; with discussion and possible action to approve an Economic Development Performance and Grant Agreement with El Portal Center LLC, which will include a sales tax rebate incentive of up to Fifty (50%) percent as per section 381 of the Texas Local Government Code; and any other matters incident thereto.