City to Get Extra $4 Million from Industrial District Deal
CORPUS CHRISTI (Kiii News) -
The City of Corpus Christi will be receiving an extra $4 million from a new 10-year agreement they made with the local industrial district.
That district is made up of businesses outside the city limits, but still within the City's jurisdiction. Council members formally approved Tuesday an agreement that taxes 62-percent of the value of the companies' property, up from the current 60-percent.
City Manager Ron Olson said the deal will mean more money for street maintenance, and will still encourage local industry to reinvest and expand and create more jobs.