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El Paso staff outline strategy to pursue Texas project finance zone despite eligibility, border hurdles
Summary
City staff briefed the Financial Oversight and Audit Committee on project finance zones under Texas law, saying El Paso currently does not qualify and that a 3‑mile zone around the convention center would fall largely in Mexico; staff said they will draft legislative language to seek eligibility and flexibility.
City staff told the Financial Oversight and Audit Committee on Jan. 15 that a little‑used state economic development tool — a project finance zone under Texas law — could provide decades of incremental state tax revenue for large projects such as a convention center expansion without raising local taxes.
Robert Cortinas, the city presenter, said the program would rebate the state’s portion of hotel occupancy tax, sales tax and mixed‑beverage tax collected in a three‑mile radius around an identified project back to the city for 30 years. “This presentation is really gonna focus on a potential revenue opportunity,” Cortinas said, adding the rebate…
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