El Paso District 2 city Rep. Josh Acevedo is seeking to terminate the tax break agreement the city awarded Meta Platforms Inc. in exchange for the tech giant developing a $10 billion data center in Northeast El Paso – a move officials have warned could create massive financial risks for the city.
Acevedo — whose district comprises portions of South and Central El Paso — is calling for a vote to direct the city manager and city attorney to “initiate negotiations to terminate the Chapter 380 Economic Development Program Agreement and any related incentive agreements with Wurldwide LLC and Meta Platforms, Inc.,” according to a draft of the agenda item obtained by El Paso Matters. The proposal will be discussed at the Tuesday, June 9, City Council meeting, Acevedo said in a news release, though an agenda has not yet been posted on the city website.
Canceling the agreement as construction is in progress would raise legal questions about what losses the city may incur – including facing lawsuits by the trillion-dollar company. City staffers have argued such a move also could cause other businesses to question entering into legal agreements with the city of El Paso…