Discussion and possible action to authorize County staff to draw the necessary funds in an amount up to $58,400.00 from the standby Letter of Credit No. 85990 (Vantage Bank) as required to complete pending FEMA Letter of Map Revision (LOMR) required by the Agreement between Webb County and TDB World Industrial Park, LLC in the event that, on or before January 19, 2025, the developer fails to either: 1) secure FEMA approval for the proposed LOMR; or 2) provide a reasonable time extension to the financial guarantee.

Issue: Item is a regulatory compliance matter of the Webb County Flood Damage Prevention Order and Federal floodplain management requirements.  The current financial guarantee expires January 19, 2025. The County Floodplain Administrator has not received any correspondence regarding project status from either FEMA or the project hydrologist since May 2024. Since FEMA LOMR approval has not been issued or an extension of the financial guarantee has not been submitted, this item has been placed for the court’s authorization to draw the funds.

Solution: Drawing the funds will allow the County to ensure completion of LOMR and compliance with Federal and local floodplain management regulations.

Result: Federal and local floodplain management regulation requirements will be met.

Item is a regulatory compliance matter of the Webb County Flood Damage Prevention Order and Federal floodplain management requirements.  The current financial guarantee expires January 19, 2025.
The County Floodplain Administrator has not received any correspondence regarding project status from either FEMA or the project hydrologist since May 2024. Since FEMA LOMR approval has not been issued or an extension of the financial guarantee has not been submitted, this item has been placed for the court’s authorization to draw the funds.
 

Commissioners Court approved the Development Agreement on January 22, 2024.