HARLINGEN — Tax revenue will be used to help fund a $14 million project to build a convention center.
City commissioners met Monday with the Tax Increment Financing Reinvestment Zone Board to make the project eligible for tax revenue aimed at economic development.
As part of an agreement, the city will fund construction of the 43,000-square-foot convention facility at the fast-growing HarlingenHeights shopping district anchored by Bass Pro Shops.
The agreement calls for San Antonio-based developer BC Lynd Hospitality, with Weslaco developer Ezequiel Reyna, to build a 150-room hotel next to the convention center.
In 2006, the city created three zones from which to generate tax revenue earmarked for economic development.
This year, officials project the three zones will generate a total of $121,000, City Manager Dan Serna said yesterday.
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