SUBJECT
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An ordinance expanding the board of directors of Tax Increment Reinvestment Zone Number One, City of Laredo, Texas; amending ordinance 2016-O-192 to provide for appointment of two additional directors; containing findings and provisions related to the foregoing subject; and providing a severability clause.
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VIVA LAREDO PLAN ALIGNMENT
Alignment Rating: Moderate
Supporting goal(s)/policy(ies):
• Policy 3.1.1 - Leverage public-private partnerships to finance development and infrastructure improvements.
“Encourage collaboration between the City, private investors, and other public entities to finance improvements that advance community goals.” (Viva Laredo Comprehensive Plan, p. 3.6)
• Policy 3.3.2 - Support reinvestment in underutilized and strategically important areas.
“Promote reinvestment in areas with strong potential for economic return and community benefit through targeted incentives and planning tools.” (Viva Laredo Comprehensive Plan, p. 3.10)
• Policy 3.4.4 - Ensure transparency and accountability in the use of incentives and special districts.
“Maintain public trust in the use of incentives, tax abatements, and reinvestment zones by requiring accountability and transparency in decision-making processes.” (Viva Laredo Comprehensive Plan, p. 3.13)
PREVIOUS COUNCIL ACTION
On December 5, 2016, the City Council of the City of Laredo, Texas, adopted Ordinance No. 2016-O-192 designating a 652.8-acre geographic area within the City as Tax Increment Reinvestment Zone Number One, City of Laredo (the "Zone") and creating a Board of Directors (the "Board") for such Zone.
On May 12, 2017, the City Council adopted Ordinance No. 2017-O-047 expanding the Board from five (5) to seven (7) directors.
On April 22, 2025, the City Council, in Executive Session, deliberated pursuant to Texas Government Code Section 551.087 (Economic Development Negotiations) with Webb County regarding the composition of the Board of Directors for Tax Increment Reinvestment Zone Number One, including possible amendments to Ordinance No. 2016-O-192 and any subsequent related amendments, and matters incident thereto.
BACKGROUND
The Board of Directors of Tax Increment Reinvestment Zone (TIRZ) No. 1 recognizes the importance of strengthening partnerships to enhance the revitalization and redevelopment of downtown Laredo. In pursuit of this goal, the Board seeks to expand collaboration by inviting the County of Webb to join and contribute to TIRZ No. 1, pursuant to the authority granted under Chapter 311 of the Texas Tax Code, the Tax Increment Financing Act. The Webb County Commissioners Court approved participation in TIRZ No. 1, marking a significant step toward strengthening intergovernmental cooperation and ensuring the continued progress of downtown revitalization efforts.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this resolution.
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Fiscal Impact
Fiscal Year: 2025/2026
Budgeted Y/N?: N
Source of Funds: N/A
Account #:
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
No Financial Impact at the moment.