SAN BENITO — For much of its 18 years, the city’s Economic Development Corporation’s first real estate investment has stood empty along a frontage road near the city’s northern edge — a prime strip off Interstate 69.
In early 2019, EDC officials put on sale the 7,500-square-foot building on 3 acres appraised at $1.15 million.
Now, its sale price is negotiable, City Commissioner Rene Garcia, who sits on the EDC board, said Tuesday.
About three years ago, EDC officials also requested the Cameron County Appraisal District grant the agency a tax exemption on the building for which it’s paid $30,771 a year in property taxes.
“The fact that we’re a government non-profit organization should allow us to qualify for the exemption,” Rebeca Castillo, the EDC’s executive director, said.
Owing back taxes
Meanwhile, Jim Evans, the appraisal district’s attorney in Austin, is reviewing the EDC’s request, Richard Molina, the county’s chief appraiser, said.
As the agency’s awaited the district’s decision, the building’s delinquent taxes are up to $2,769 for the 2021 tax year.
“It’s recommended that we wait in making the payment,” Castillo said, referring to attorney Mark Sossi’s recommendation. “If we make the payment now, there’s no guarantee the taxing entity will reimburse us.”
Background
Every week, the agency fields about five calls from prospective buyers, Castillo said.
“Some are looking for a small part of the building or leasing it,” she said. “Right now, we’re looking at selling it.”
In late 2003, the EDC bought the building for $690,000 — the agency’s first real estate venture.
After serving as the site of the Kids Round-Up Pediatric Rehab, a physical rehabilitation center, officials have worked for years to lure a tenant.
