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Opportunity for District 2 Five Points Businesses

There are some exciting programs, incentives and ideas coming from the City Development department.  Below I've copied a section from their recent e-newsletter. Learn more about incentives. District 2 Five Points businesses and potential businesses in the Five Points area should learn more. Start with the publication Sustainable City Centers Incentive where you will find a map of the Five Points area.

Apply Now! 'Sustainable City Centers' Incentive Aims to Draw New Investment Throughout Key El Paso Areas

Last week, the El Paso City Council approved changes to one of the City's newest and most promising incentive programs for the local business community. Council members voted to extend and broaden the Sustainable City Centers programs both in the Downtown area and in other key areas around town where City leaders want to encourage development. The changes include an expansion of the Downtown incentive area. City staff recommended enlarging the eligible incentive area to include sites near the new ballpark and the Union Depot areas, as well as the newly-formed government corridor which will soon encompass City Hall and the City Development Center buildings currently being renovated. Other incentive areas in the city include Five Points, Mission Valley, Glory Road, Northgate, the Medical Center of Americas (MCA) and now the El Paso International Airport Southern Industrial Area. The policy allows the following incentives for qualifying projects: Property tax rebate Rebate of the City's portion of sales tax on construction and building materials Building permit fee waiver Ground floor retail sales tax rebate Depending on the incentivized areas, the incentive will last five to 10 years. If the construction includes a historic building, an additional five years of incentives will be added. All Downtown projects must have a minimum  cost of $2.25 million for new buildings and a $250,000 investment for existing structures. For new construction outside of Downtown  El Paso and within any of the other six incentive areas, a minimum $200,000 investment must be made. For construction on existing structures in those areas, a minimum $50,000 investment is necessary. All projects must also meet design guidelines outlined within Plan El Paso. City leaders are hoping the results of these changes will be an increase of private investment, to match the estimated $300 million of public funds already poured into Downtown revitalization and elsewhere. For more information, please visit the City Development's Incentive Webpage and click on the 'Downtown Sustainable City Centers' and 'Sustainable City Centers' summaries. You may also schedule an appointment with Nickole Heater in the Economic Development Division by calling (915) 588-4342 or via email at HeaterNM@elpasotexas.gov.

Thank you City Development for helping to make a great city even greater!

Look for This Card as We Go Door to Door

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