SUBJECT
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A Resolution of the City Council of the City of Laredo, Texas, authorizing the City Manager to negotiate, amend, and execute the existing Chapter 380 Economic Development Agreement with Killam Development, Ltd., as originally approved in City Council Resolution 2025-R-149, to add the description of newly identified properties, remove a designated property, and provide for the waiver of development and vacant building fees as an additional incentive in support of the project; and establishing an effective date.
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VIVA LAREDO PLAN ALIGNMENT
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PREVIOUS COUNCIL ACTION
City of Laredo Council approved a Chapter 380 agreement via Resolution No. 2025-R-149. At the council meeting held on 08/18/2025, the proposed amendment was presented in executive session.
BACKGROUND
Proposed amendment is being requested by the developer to enhance the viability and timely completion of the project/.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
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Fiscal Impact
Fiscal Year: Starting FY 25
Budgeted Y/N?: N
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Change Order: Exceeds 25% Y/N: Click or tap here to enter text.
FINANCIAL IMPACT:
Projected financial impact for the duration of this agreement is approximately $124,000 in fee waivers for all properties.