SUBJECT
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Authorizing the City Manager to allocate funds and negotiate an Interlocal Agreement between the City of Laredo and the Webb County-City of Laredo Regional Mobility Authority (WC-CL RMA) to share the costs for the creation of a Transportation Reinvestment Zone (“TRZ”) to fund improvements to Cuatro ýVientos Boulevard. The WC-CL RMA Board approved Resolution No. 24-20 on November 6, 2024 committing up to $50,000.00 toward the creation of the Laredo TRZ.
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PREVIOUS COUNCIL ACTION
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BACKGROUND
In May 4, 2022 the City of Laredo entered into an agreement with the WC-CL RMA to update the Cuatro Vientos TRZ feasibility study. The TRZ Feasibility Study is complete and the Parties desire to move forward with the creation of the Laredo TRZ.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
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Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: N
Source of Funds: N/A
Account #: N/A
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
No Financial Impact at this time.