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A Resolution of the City Council of the City of Laredo, Texas approving a Chapter 380 Agreement between the City of Laredo and DSVL Global Transport and Logistics, LLC., pursuant to an economic development incentive under Chapter 380 of the Texas Local Government Code and authorizing the City Manager to execute all relevant documents, and any other matters incident thereto; providing for severability; providing for an effective date; and providing for publication. The 8 year agreement obligates the Company to invest an aggregate estimated amount of $90,000,000.00 for the construction of a warehouse and distribution center and create at least 178 new full-time permanent jobs.
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PREVIOUS COUNCIL ACTION
During the January 28, 2025 City Council Meeting in Executive Session, Council motioned to approve the request to move forward with negotiations regarding an incentive to DSV Global Transport and Logistics pursuant to Chapter 380 of the Texas Government Code.
BACKGROUND
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COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Recommends approval of 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:
No financial impact until 2027.
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recommendation
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