Discussion and possible action to adopt a resolution in support of the City of Laredo's legislative effort, during the 90th Texas Legislature, to seek authorization for the establishment of a Project Financing Zone (PFZ) centered around the Sames Auto Arena, which would provide a mechanism to capture eligible incremental State tax revenues generated within the zone for a period of up to 30 years t

Staff Report & Agenda Item Details

Discussion and possible action to adopt a resolution in support of the City of Laredo's legislative effort, during the 90th Texas Legislature, to seek authorization for the establishment of a Project Financing Zone (PFZ) centered around the Sames Auto Arena, which would provide a mechanism to capture eligible incremental State tax revenues generated within the zone for a period of up to 30 years to support the development, expansion and improvement of a future convention center and related facilities; recognizing the potential regional economic development, tourism, hospitality, and quality-of-life benefits of such a project for Laredo and Webb County; and authorizing the County Judge to execute the resolution and any related letters of support and any matters incident thereto.

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 2.2/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.