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City of Laredo Special City Council Meeting M2006-SC-01 City Council Chambers 1110 Houston Street Laredo, Texas 78040 January 12, 2006 5:30 p.m.
I. CALL TO ORDER
With a quorum present, Mayor Elizabeth G. Flores called the meeting to order.
II. PLEDGE OF ALLEGIANCE
The Mayor led in the Pledge of Allegiance.
III. ROLL CALL
In attendance:
Elizabeth G. Flores, Mayor Alfredo Agredano, Council Member, District I Hector Garcia, Council Member, District II Johnny Amaya, Council Member, District IV Johnny Rendon Council Member, District V Gene Belmares, Council Member, District VI Jose A. Valdez, Jr., Mayor Pro Tem, District VII Juan Ramirez, Council Member, District VIII Gustavo Guevara, Jr., City Secretary Larry Dovalina, City Manager Cynthia Collazo, Deputy City Manager Horacio De Leon, Assistant City Manager Rafael Garcia, Assistant City Manager Anthony McGettrick, Assistant City Attorney
Motion to excuse Cm. Galo.
Moved: Cm. Agredano Second: Cm. Amaya For: 7 Against: 0 Abstain: 0
IV. STAFF REPORT
Status report on the El Portal project from City staff and Mr. Bruce Cole, representing El Portal Center Development.
Larry Dovalina, City Manager, said that the City has taken the committee members of the Downtown Development Committee into the facility that is being constructing to show them the progress that is being made as part of the facility. He invited the rest of the Council to physically visit the site to see the progress that has been made. He said that the construction is 45% complete and a person can begin to appreciate the beauty of the area.
Bruce Cole of El Portal Center, LLC., advised that he gave a presentation representing El Portal Center Development in May 15, 200. He said that he had discussed their plan regarding a national trade center, hotel, and convention center and he outlined the entire proposal. He said that the essence of the proposal was that the City was going to have to acquire property that he was not able to acquire. He added that the City would construct a parking lot and they would build a convention center, trade center, and a hotel. Once the construction was complete they would transfer ownership of the convention center to the City. He illustrated the plans as the Council listened. He asked the City of Laredo is willing to make a commitment. He said that he is ready to proceed.
City of Laredo – Downtown Renaissance El Portal Center, LLC Development Agreement
Summary of Proposed Terms
Development Components
The Laredo Outlet Stores Convention Center International Trade Center Hotel Parking Structure Transportation Plaza
El Portal Center, LLC
Constructs 70,000 – 100,000 square foot Convention Center and gives to City for $1.00 Contracts with the City to operate Convention Center Constructs 150,000 leasable square foot International Trade Center Constructs 175 – 225 room hotel Spends $30 Million to renovate the existing mall into Class A Outlet Center
Hotel
Exclusive provider of Food and Beverage concession for Convention Center Use of banquet and meeting rooms at a predetermined rate Use of 200 parking spaces
City · Acquires property required for development of convention center, trade center, hotel and parking garage · Constructs and owns parking structure for 1,000 cars under Hotel, Convention Center, Trade Center, and connects to Outlet Center · Contributes air rights to El Portal above garage for Convention Center, Hotel and International Trade Center · Provides bridge between City Transportation Plaza at Salinas Bridge Retail Building
Post Construction Responsibility & Obligations
International Trade Center
Right to use banquet and meeting rooms Use of 300 parking spaces
Convention Center
Include banquet and meeting room space Right to use of banquet and meeting rooms
Outlet Center
Use of parking spaces at no cost for 5 hours with validation with standard rates thereafter
Benefits to the City of Laredo
o Continue Downtown revitalization created by City of Laredo Bridge of Americas project o Beautifies waterfront and provides spectacular views from all directions o Unifies Bridge of the Americas and other commercial developments o Generates significant economic development for the City of Laredo Entertainment Center
Job Creation Employees Property Tax Hotel Tax Parking Trade Center 300 $730,380 Hotel 125 $705,000 $613,000 Convention Center 30 $280,000 Parking Garage 10 $1,230,000 Totals 465 $1,435,380 $893,000 $1,230,000
Total Taxes $3,558,380 Total Revenue $3,558,380
Economic Summary
Trade Center 150,000 $20,900,000 Hotel 25,000,000 Convention Center * 85,000 10,000,000 Parking Garage* N/A 7,000,000 Total Project Cost $62,900,000
* To be owned by the City
The rest of the minutes will be completed on Monday, March 6, 2006. V. EXECUTIVE SESSION
The City Council hereby reserves the right to go into executive session at any time during this public meeting, if such is requested by the City Attorney or other legal counsel for the City, pursuant to his or her duty under Section 551.071 (2) of the Government Code, to consult privately with his or her client on an item on the agenda, or on a matter arising out of such item.
Motion to go into Executive Session.
Moved: Second: For: Against: 0 Abstain: 0
After Executive Session, Mayor Flores announced that no formal action was taken.
VI. ADJOURNMENT
Motion to adjourn. Time: ______ p.m.
Moved: Second: For: Against: 0 Abstain: 0 |