TIRZ 4 Approves Amendment to North Beach Hotel Development Agreement
CORPUS CHRISTI, TX – The Corpus Christi Tax Increment Reinvestment Zone #4 (TIRZ 4) board members voted in favor of authorizing the City Manager to execute an amendment to the agreement for an upscale hotel at 3612 Surfside Boulevard. After discussion among members and the Developer’s representative, the TIRZ #4 members agreed to an extension of the deadlines to begin and complete construction.
In November 2019, Corpus Christi City Council approved the original agreement with The Breakers at North Beach, LP. The agreement included incentives up to $7,826,200 for the construction of a nearly $40 million upscale hotel and apartment building on North Beach.
The initial agreement included the deadline goals set forth by the developer which required construction to begin on the hotel development within six-months or by June 2, 2020.
The new term, as requested by the developer, grants the developer three years and three months’ time to begin construction of the hotel development on or before January 31, 2024.
For more information, media representatives can contact Public Information Officer Dale Stephán at 361-826-3234 or by email at email@example.com.