SUBJECT
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A Resolution of the City Council of the City of Laredo, Texas, authorizing an amendment to the Chapter 380 Agreement with DSV Global Transport & Logistics effective as of July 28, 2026 (the "Effective Date"), is entered into by and among the City Of Laredo, Texas, a Texas home-rule municipal corporation (the "City"), DSV Real Estate Laredo, LLC, a Delaware limited liability company ("Original Company"), DSV Air & Sea Inc., a Delaware corporation("Operating Company"), and MDC Coast 18, LLC, a Delaware limited liability company ("Owner"). The City, Original Company, Operating Company, and Owner may be referred to individually as a "Party" and collectively as the "Parties."
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PREVIOUS COUNCIL ACTION
The Resolution was approved on May 6, 2025 meeting.
BACKGROUND
The City Council approved the Resolution authorizing the Chapter 380 Economic Development Agreement with DSV Global Transport & Logistics on May 6, 2026. Since the Agreement became effective, DSV Global Transport & Logistics has remained in compliance with its terms and conditions.
The ownership of the project property has since changed, resulting in a new property owner. Accordingly, an amendment to the Chapter 380 Agreement is required to update the Agreement and reflect the new property owner.
VIVA LAREDO PLAN ALIGNMENT
Alignment Rating: Moderate
Supporting goal(s)/policy(ies): Goal - Promote Economic Development
Viva Laredo Comprehensive Plan (Economic Development Chapter)
"Promote economic development through the recruitment, retention, and expansion of existing and new businesses."
Source: Viva Laredo City of Laredo Comprehensive Plan.
Relevance:
The amendment preserves an existing Chapter 380 economic development agreement following a transfer of property ownership. By maintaining the incentive structure, the City continues to support the long-term operation and expansion of DSV Global Transport & Logistics within Laredo.
Policy - Support the Retention and Expansion of Existi...
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