LAREDO, TX (KGNS) - Plans continue to move forward for the project that will transform the old Mercy Hospital building into a center of international trade.
File photo: Design plans for World Free Trade Plaza
The project manager says that at this point the city and county need to agree to convert the area into a free trade zone.
The designation would give the product that flows through the zone tax free advantage; however, there is a bit of a problem.
Even though the city has given the approval, the county currently has a moratorium on tax abatements.
The project manager says that they are working with the county but that the free trade zone designation shouldn’t be categorized as an abatement.
He says they are trying to iron it out with the county. In the meantime, once they get the necessary approvals, they will be able to move forward with the construction.