CORPUS CHRISTI, Texas — A newly passed law will bring some changes to Corpus Christi. A newly passed law will allow more money spent in the city to stay here and help revitalize the American Bank Center (ABC).
City manager Peter Zanoni told Action 10 News the complex is decades old and in need of major repairs.
But, soon the ABC will receive a significant investment, worth up to $200 to $300 million dollars.
“We think this opportunity with the project finance zone and the city council’s focus will help springboard us back into a leading destination when it comes to conventions,” Zanoni said.
Currenlty ABC is not the best option, with the nearest hotel three minutes away.
“We have to put some significant dollars into our convention center to expand it, to renovate it and make it something that is marketable,” Zanoni said.
With this new law being passed, renovations can be made possible. It will allow the city to keep money collected through the hotel and motel occupancy tax right here.
“So, in the project finance zone, all three revenues above today’s baseline in hotels in that three mile radius that is going to the state will now go back to the city,” Zanoni said.
Zanoni said with the state giving part of that tax plus locally generated revenues. The new and improved American Bank Center should be ready by 2026.
“It’s great for our economy, it’s great for employment and it’s great to showcase our city,” Zanoni said.
Action 10 News also spoke with City of Corpus Christi Mayor Paulette Guajardo, who said this is a tremendous victory. She and other city leaders will discuss this and seek approval.