Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Infill Development 914 W Yandell topic
No spam. Unsubscribe anytime.
City schedules vote on Chapter 380 agreement for infill project at 914 West Yandell; investment and incentive amounts disclosed
Summary
Council staff placed on the Jan. 22 regular agenda a resolution authorizing a Chapter 380 economic development agreement with 914 West Yandell Drive LLC requiring a minimum $638,000 investment and city incentives capped at $28,212.88 under the city’s infill development program.
City staff on Jan. 21 told the City Council that a resolution will appear on the Jan. 22 regular meeting agenda to authorize a Chapter 380 economic development agreement between the City of El Paso and 914 West Yandell Drive LLC for an infill development project at 914 West Yandell.
Karina, Economic and International Development (name as provided in the meeting record), said the agreement requires the applicant to make a minimum investment of $638,000 and that the city would provide economic incentives "not to exceed $28,212.88." The incentives were described as a mix of a real property tax rebate, a construction material sales tax rebate and building-construction-fee rebates under the city’s infill development program.
Staff said the agreement is a location-based incentive: projects located within the eligibility area that meet design requirements and the minimum investment threshold are eligible. The staff presentation indicated the agreement term would be five years.
The item was presented at the agenda review session for council consideration the following day; the transcript does not record a council vote on the resolution during the Jan. 21 meeting. The resolution is scheduled for consideration at the El Paso City Council regular meeting on Jan. 22, 2025.
