City Council Designates Project Financing Zone
City of Corpus Christi
CORPUS CHRISTI, TEXAS – (News Release) On Dec. 10th at the regularly scheduled City Council meeting, the City Council designated a Project Financing Zone (PFZ) around the American Bank Center Complex. This is a significant step in enhancing Corpus Christi’s premier convention and event facilities. The PFZ will redirect incremental state hotel-associated tax revenues, including Hotel Occupancy Tax (HOT), sales taxes, and mixed beverage taxes, back to the zone, generating an estimated $70.8 million over the 30-year term.
“The designation of a Project Financing Zone around the American Bank Center complex marks a significant investment in the future of our city,” said Mayor Paulette Guajardo. “This funding will support critical upgrades to ensure the complex remains a premier destination for entertainment, tourism, and economic growth. By enhancing this vital facility, we are strengthening our infrastructure and providing lasting benefits for residents, visitors, and local businesses.”
The funding will support critical upgrades to the Convention Center, Selena Auditorium, and the Arena, ensuring they remain competitive and accessible for events and tourism. With 20 hotels and 2,094 rooms in the zone, the initiative ties local economic growth directly to community reinvestment.
The designation follows the 88th Texas Legislature’s approval of HB 5012 and reinforces the City’s commitment to improving public facilities. By mid-2025, city staff will model resources and present detailed plans for facility needs improvements to the City Council.
