CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
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Details
District 1
Economic and International Development, Karina Brasgalla, (915) 212-0094
Economic and International Development, Bill Allen, (915) 212-0094
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AGENDA LANGUAGE:
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Title
Discussion and action on a Resolution authorizing the City Manager to sign a Chapter 380 Economic Development Program Agreement by and between CITY OF EL PASO and PADEL PASO PROPERTIES, LLC, to further the municipal purpose of promoting economic development, in support of the construction of a development located on the real property with the following Property IDs 732524 and 732525, El Paso, Texas, 79912 and more fully described in Exhibit A and A-1 of the Agreement. The project includes a paddle court entertainment district and a full-service restaurant. The Agreement requires the Applicant to make a minimum investment of $2,310,000. Over the term of the Agreement, the City shall provide economic incentives not to exceed $45,425 in the form of a Property Tax Rebate; a Development Fee Rebate; and a Construction Materials Sales Tax Rebate.
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