SUBJECT
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Authorizing the City Manager to execute a Participation Agreement with Webb County for participation in Tax Increment Reinvestment Zone (TIRZ) No. 1, pursuant to Chapter 311 of the Texas Tax Code.
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PREVIOUS COUNCIL ACTION
On April 22, 2025, the City Council, in Executive Session, deliberated pursuant to Texas Government Code Section 551.087 (Economic Development Negotiations) with Webb County regarding the composition of the Board of Directors for Tax Increment Reinvestment Zone Number One, including possible amendments to Ordinance No. 2016-O-192 and any subsequent related amendments, and matters incident thereto
BACKGROUND
On September 8, 2025, the Webb County Commissioners Court approved participation in the City of Laredo Tax Increment Reinvestment Zone (TIRZ) No. 1 pursuant to Chapter 311 of the Texas Tax Code. The City of Laredo seeks to formalize this partnership through a Participation Agreement that will outline the County’s contribution and involvement in redevelopment and revitalization efforts within the Zone.
On October 3, 2025, the TIRZ No.1 Board approved the participation and agreement as presented.
COMMITTEE RECOMMENDATION
Committee recommends the approval of this motion
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this motion.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: N
Source of Funds: N/A
Account #:
Change Order: Exceeds 25% Y/N: N
FINANCIAL IMPACT:
No financial impact at the moment.