CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
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Details
District 8
Economic and International Development, Bill Allen, (915) 212-1619
Economic and International Development, Elizabeth K. Triggs, (915) 212-0094
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AGENDA LANGUAGE:
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Title
Discussion and action that the City Manager be authorized to sign a Chapter 380 Economic Development Program Agreement (“Agreement”) by and between City of El Paso (“City”) and Bafar Holdings, Inc., (“Applicant”) in support of a project located at 1600 Fourth Avenue, El Paso Texas, 79901 and 1400 Sixth Street, El Paso, Texas 79901. The project includes the Applicant to make a minimum investment of $21,332,150.00. Over the term of the Agreement, the City shall provide economic incentives not to exceed $715,771.00 in the form of a Property Tax Rebate; a Development Fee Rebate; and a Construction Materials Sales Tax Rebate.
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