CITY OF EL PASO, TEXAS
AGENDA ITEM SUMMARY FORM
Details
District 8
Economic and International Development, Jessica Herrera, (915) 212-1624
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PUBLIC HEARING DATE: 3/16/2021
STRATEGIC GOAL:
Goal 1 - Create an Environment Conducive to Strong Sustainable Economic Development
SUBGOAL: Choose an item.
SUBJECT:
APPROVE a Resolution / Ordinance / lease to do what? OR AUTHORIZE the City Manager to do what? Be descriptive of what we want Council to approve. Include $ amount if applicable.
Title
An Ordinance approving Amendment Number Nineteen to the Project Plan and Reinvestment Zone Financing Plan for Tax Increment Reinvestment Zone Number Five, City of El Paso, Texas, to allocate up to one hundred fifty thousand ($150,000.00) of the Tax Increment Reinvestment Zone annual revenue to the downtown plan effort to support the development of a capital needs assessment; adopting said amendments as required by section 311.011(E) Texas Tax Code; and providing a severability clause.
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BACKGROUND / DISCUSSION:
Discussion of the what, why, where, when, and how to enable Council to have reasonably complete description of he contemplated action. This should include attachment of bid tabulation, or ordinance or resolution if appropriate. What are the benefits to the City of this action? What are the citizen concerns?
On February 18, 2021, the Board of Directors recommended approval of an amendment to the Zone's Project Plan and Reinvestment Zone Financing Plan to allocate up to one hundred fifty thousand ($150,000.00) of the Tax Increment Reinvestment Zone annual revenue to the downtown plan effort to support the development of a capital needs assessment.
The uptown/downtown area represents the central core of El Paso and contains the largest concentration of historic areas and walkable blocks in the city. It is bisected by I-10 and bordered to the west and south by the US/Mexico border. It is inclusive of the uptown and downtown trolley loops as well as the Uni...
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