SUBJECT
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A Resolution of the City Council of the City of Laredo, Texas, approving the Bylaws of the Board of Directors for the Reinvestment Zone No. 1 ( A Tax Increment Reinvestment Zone)
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VIVA LAREDO PLAN ALIGNMENT
Alignment Rating: Strong - Directly supports or fulfills a clearly stated and verbatim goal or policy from the Viva Laredo Comprehensive Plan.
Supporting goal(s)/policy(ies):
Policy 4.1.3 - "Create Tax Increment Reinvestment Zones (TIRZs) in targeted areas to attract private investment."
Page 4.5
Source: Viva Laredo Comprehensive Plan
Relevance: The resolution reaffirms and formalizes the governance structure of an existing TIRZ. This is a direct implementation of Policy 4.1.3, which advocates for the use of TIRZs as a financial tool to stimulate development in strategically selected areas.
Policy 4.1.1 - "Adopt proactive economic development tools and incentives to support private investment."
Page 4.5
Source: Viva Laredo Comprehensive Plan
Relevance: By approving bylaws for the TIRZ board, the City is reinforcing a key economic development tool designed to leverage public and private capital.
Goal 4.1 - "Increase economic development opportunities."
Page 4.4
Source: Viva Laredo Comprehensive Plan
Relevance: This resolution supports the broader objective of creating mechanisms that enable economic growth, job creation, and infrastructure investment in underserved or underutilized areas.
Summary of alignment:
This resolution demonstrates strong alignment with the Viva Laredo Comprehensive Plan's economic development goals. By approving the bylaws of the Board of Directors for Reinvestment Zone No. 1, the City is taking formal steps to activate and govern a TIRZ-a critical strategy explicitly endorsed in Policy 4.1.3 for attracting private investment to targeted areas. This action also supports Policy 4.1.1, which calls for the adoption of financial mechanisms to encourage economic activity. Additionally, it contributes directly to Goa...
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