CORPUS CHRISTI, Texas — City Council has signed off on a crucial part of the North Beach Tax Increment Reinvestment Zone, or TIRZ 4.
This legislation would be used to help construct the new upscale Frazier Hotel.
The $40 mllion, 138-room hotel was in danger of not happening because the developers didn't have all their required building permits.
The original deadline agreement required construction to have started by June of this year.
That could have killed the deal. But instead, the council has agreed to a three-year, three-month extension of the deadline to begin construction.