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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 Clear Choice ., 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 five (5) year agreement obligates the Company to invest an aggregate estimated amount of $14,000,000 for the expansion to a Micro Hospital and create at least 36 new full-time permanent jobs.
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PREVIOUS COUNCIL ACTION
During the April 21, 2025 City Council Meeting in Executive Session, the Economic Development Department presented a recommendation to consider an incentive program for the expansion of their current location. Council recommended to move forward with negotiations for an incentive agreement 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
Fiscal Year: 2027
Budgeted Y/N?: Click or tap here to enter text.
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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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