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Wednesday , November 14 2018
Home | Tag Archives: LLC

Tag Archives: LLC

City Inks Incentive Deal to help Restore Downtown’s Banner Building

Tuesday, the El Paso City Council approved a Chapter 380 Economic Incentive Agreement for the renovation of the historic Banner Building located at 215 N Mesa Street.

The building, which sits in the heart of downtown adjacent to San Jacinto Plaza, will now undergo a much needed renovation after today’s approved incentive agreement between the City of El Paso and the building owner, EP Downtown Partners, LLC.

Banner Bldg, ca. 1980 | Photo courtesy Library of Congress
Banner Bldg, ca. 1980 | Photo courtesy Library of Congress

Per the agreement, the building owner proposes to completely rehabilitate the early 20th Century Romanesque five-story structure designed by Trost & Trost at an estimated investment amount of $6.5 million.

This investment amount qualifies the property owner for an incentive package totaling $2,188,668.14.

The building owner plans on using the first floor of the structure for retail and restaurant space. The upper floors will be utilized as office space.

Since 2014, twelve downtown property owners have formed agreements with the City of El Paso resulting in more than $100 million of private investment.

Of those twelve, three are considered historic.

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Local Company Awarded Contract for Zoo’s Red River Hog Exhibit

During their regular meeting on Tuesday,  El Paso City Council members approved the construction contract for the El Paso Zoo African Wetlands Red River hog exhibit and holding building to local construction agency Pride General Contractors.

The $557,784 construction project is one of the zoo’s Quality of Life Bond (QOL) projects that will create a new exhibit space for new animals.

Pride General Contractors, LLC is an El Paso general construction company that brings more than 30 years of experience in both small and large scale construction, repair, and alteration projects focusing on commercial, industrial and private contracting.

Improvements include an interior and exterior behind the scenes living space, a new exhibit area and improvements to the existing wetlands pond exhibit. The exterior space includes shading and a training areas for animals.

City officials say this portion of the Quality of Life Bond project is part of the Zoo’s master plan, which is the framework for moving the Zoo forward in an innovative direction. On November 6, 2012, El Paso voters approved $470 million worth of improvements to parks, libraries, museums, downtown and the El Paso Zoo.

Officials add that the ballot question received an overwhelming 75 percent response in favor of approving the Quality of Life Bond Issue.