Discussion and possible action to enter into a “Tax Exemption Settlement Agreement” among and between Webb County, Laredo College, and the United Independent School District (herein “Taxing Entities”) and the City of Public Service Board of San Antonio, Texas (“CPS Energy”), a tax-exempt entity, with Webb County receiving the sum certain amount of TWO HUNDRED FORTY-THOUSAND DOLLARS ($240,000.00) from CPS Energy with said payment being made in lieu of ad valorem taxes that Webb County would have received regarding the sale/purchase of the Laredo Energy Center (7300 CPL Road, Laredo, Texas) by CPS Energy in 2024. [Receivable as to the County]
 
Issue: In 2024, CPS Energy, a tax-exempt entity, acquired the Laredo Energy Center, whose address is 7300 CPL Road. A dispute arose between the Webb County Appraisal District, the taxing entities and CPS Energy regarding the date of acquisition of the property and ad valorem taxes due and owed the various taxing entities for tax year 2024. 
 
Solution: An agreement has been reached between the taxing entities as to the ad valorem taxes due and owed the various taxing entities for the tax year 2024. The United Independent School District and Laredo College have approved the Settlement Agreement.

Settlement Payment to Webb County.

None