SUBJECT
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A resolution of the City Council of the City of Laredo, Texas amending Resolution 2025-R-67 and tax abatement agreement between the city of Laredo and Luis Alfredo Castillo for a proposed residential project located at 2416 Ventura St., Lot 2, Block 624, Western Division. The amendments are as follow, estimated capital investment total from $178,00.00 to $233,665.00, base value from $62,615 to $72,760.00, an estimated annual tax abatement total of $903.57 to 1,550.79, and estimated fee waivers from 903.57 to $1,633.64. This project is located within City Council District 8.
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PREVIOUS COUNCIL ACTION
On February 19, 2025, the City Council approved a Neighborhood Empowerment Zone (NEZ) project for a proposed single-family residential property located at 2416 Ventura St., Lot 2, Block 624, Western Division, under Resolution 2025-R-67. The applicant is now requesting an amendment to the approved NEZ project to modify the residential structure from a one-story home to a two-story home. Additionally, the applicant has indicated that the revised project design will result in an increased capital investment exceeding the amount originally approved by the City Council.
BACKGROUND
VIVA LAREDO PLAN ALIGNMENT:
Moderate
Supporting Goal(s)/Policy(ies)
Goal 3.1 - Promote Economic Development and Investment (Viva Laredo Comprehensive Plan, p. 3.xx)
“Promote economic development through targeted incentives and partnerships that encourage private investment.”
Relevance: The amended agreement continues to utilize tax abatements and fee waivers as financial incentives to support increased private investment in residential development, consistent with the Plan’s economic development strategy.
Policy 3.1.2 - Encourage Infill and Redevelopment (Viva Laredo Comprehensive Plan, p. 3.xx)
“Encourage infill development and redevelopment of underutilized land within the existing urban area.”
Relevance: The project remains located within an existing platted lot in the Western Division, supporting infill development and efficient utilization of existing infrastructure.
Goal 2.2 - Support Neighborhood Revitalization (Viva Laredo Comprehensive Plan, p. 2.xx)
“Promote the revitalization of existing neighborhoods through reinvestment and targeted programs.”
Relevance: The continued investment-now at an increased level-reinforces neighborhood reinvestment objectives and aligns with revitalization efforts in established areas of the city.
Summary of Alignment
This agenda item demonstrates moderate alignment with the Viva Laredo Comprehensive Plan. The amendment enhances an existing agreement by increasing the level of private capital investment and corresponding incentives, thereby reinforcing the Plan’s goals related to economic development, infill housing, and neighborhood revitalization.
While the action strengthens an already aligned project by expanding its scale and financial impact, it remains an administrative amendment rather than the direct implementation of a specific verbatim policy. As such, it contributes to the intent of the Comprehensive Plan without fully constituting a direct policy action.
The project continues to support broader planning themes including housing development, reinvestment in existing neighborhoods, and equitable economic growth, particularly within established residential areas.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends that the City Council approve this resolution.
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Fiscal Impact
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Change Order: Exceeds 25% Y/N: Click or tap here to enter text.
FINANCIAL IMPACT:
The amendments are as follow, estimated capital investment total from $178,00.00 to $233,665.00, base value from $62,615 to $72,760.00, an estimated annual tax abatement total of $903.57 to 1,550.79, and estimated fee waivers from 903.57 to $1,633.64.