Ord. 2026-10-05-22. (b5639f)City of Laredo (Webb County)

A Resolution of the City Council of the City of Laredo, Texas authorizing and approving a fee waiver and tax abatement agreement between the City of Laredo and Virginia Garcia for the rehabilitation of an existing residential property located at 1520 Farragut Street, Lots 1-2 BLK 143 Western Division, in accordance with the authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ). This agreement will be for a five (5) year period and will ab

Bastiat Overreach Score: 78/100

Passed: 2026-10-05 • Effective: 2026-10-05

Executive Summary & Impact

A Resolution of the City Council of the City of Laredo, Texas authorizing and approving a fee waiver and tax abatement agreement between the City of Laredo and Virginia Garcia for the rehabilitation of an existing residential property located at 1520 Farragut Street, Lots 1-2 BLK 143 Western Division, in accordance with the authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ). This agreement will be for a five (5) year period and will abate taxes on new improvements for the purpose of economic development. The project has an estimated capital investment total of $37,500.00, an estimated annual tax abatement of $189.80, and estimated fee waivers of $2,224.50. Guidelines and criteria applicable to the agreement are set forth in the attached agreement and supporting documentation.

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Legislative Enactment & Roll-Call History

22. • City of Laredo City Council2026-10-05

A Resolution of the City Council of the City of Laredo, Texas authorizing and approving a fee waiver and tax abatement agreement between the City of Laredo and Virginia Garcia for the rehabilitation of an existing residential property located at 1520 Farragut Street, Lots 1-2 BLK 143 Western Division, in accordance with the authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ). This agreement will be for a five (5) year period and will abate taxes on new imp

Outcome: PASSED (9-0) • Motion to approve A Resolution of the City Council of the City of Laredo, Texas authorizing and approving a fee waiver and tax abatement agreement between the City of Laredo and Virginia Garcia for the rehabilitation of an existing residential property located at 1520 Farragut Street, Lots 1-2 BLK 143 Western Division, in accordance with the authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ). This agreement will be for a five (5) year period and will abate taxes on new imp

Official Legal Text & Codified Sections

OFFICIAL LEGISLATIVE DOCKET RECORD — CITY OF LAREDO
Instrument / Docket Number: Ord. 2026-10-05-22. (b5639f) (Agenda Item 22.)
Meeting: City of Laredo City Council
Date Enacted: 2026-10-05
Roll-Call Outcome: PASSED (9 YES - 0 NO)
Category: Taxes & Fees
Source Document: https://cityoflaredo.legistar1.com/cityoflaredo/meetings/2026/10/1335_A_City_Council_26-10-05_Regular_Meeting_Agenda.pdf

VERBATIM DOCKET TEXT & SUMMARY:
A Resolution of the City Council of the City of Laredo, Texas authorizing and approving a fee waiver and tax abatement agreement between the City of Laredo and Virginia Garcia for the rehabilitation of an existing residential property located at 1520 Farragut Street, Lots 1-2 BLK 143 Western Division, in accordance with the authorized guidelines and criteria established for the Neighborhood Empowerment Zone (NEZ).  This agreement will be for a five (5) year period and will abate taxes on new improvements for the purpose of economic development.  The project has an estimated capital investment total of $37,500.00, an estimated annual tax abatement of $189.80, and estimated fee waivers of $2,224.50.  Guidelines and criteria applicable to the agreement are set forth in the attached agreement and supporting documentation.