Pro 8 Investigates: Was El Portal a good investment?
By
KGNS News
Story Created:
May 21, 2010
Story Updated:
May 22, 2010
Years after spending about 4 million dollars on El Portal, both the city and HKG are stepping back and taking a good look at whether or not the investments paid off.
Many have wondered if the city lost any money by investing in the project.
HKG director of operations Elsa Navarro says plans to bring name brand merchandise to downtown shoppers did become reality, though not to the extend they hoped for, admitting business has been slow.
The first floor is completely occupied by HKG, but upstairs, spots remain vacant.
Assistant City Manager Jesus Olivares says the economy hasn't helped, saying el portal is a project that was simply approved at a bad time, but for HKG one of the real problems is parking.
Either way, Navarro still has faith that soon all spaces at El Portal will be full, and in the mean time, they'll continue trying to draw in customers.
El portal has been contracted out for 20 years, so according to Olivares, it’s the responsibility of Khaledi Industries to fill the spots.
He says either way, the city has not lost any money on the project because the group has paid rent on time.
Meanwhile, HKG says they want shoppers to know that a duty free store does not mean items have to be exported to Mexico.
They're encouraging everyone to shop downtown.
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get_it_right said on Saturday, May 22 at 1:32 AM
The original budget was $13,000,000 check the Laredo Times. Then it rose to $23 million and then $40 million. You are missing alot of zero in your news report. The company only has to pay back a couple hundred thousand a year. The Laredo Taxpayer will never get a return on it's investment. It was a sweetheart deal someone is getting rich at the Taxpayer expense.
43740534waste for tax payers said on Saturday, May 22 at 8:49 AM
great example of the city wasting our money,wonder how much went for kick backs. once a bid is in the company that submited the bid should eat the extra cost thats why we have bids. once again 1 dollar for the project and three for someone!!!!!!!!
43752149What said on Saturday, May 22 at 8:49 AM
Is Ms. Navarro related by any way to the Navarro who is running for city council and puppet to the sell out, Gene Belmares?
43752174You member said on Saturday, May 22 at 9:53 AM
This was the project the city of Laredo had with the Horizon group then backed out to sign a new deal with the Kaleide group... These guys are the same ones who tore down the historic house with out a permit!
43756654THE PATRON SYSTEM said on Saturday, May 22 at 10:33 AM
LETS SEE..BELAMRES KISSES UP TO THE KHALEDIS.. THEY GET EL PORTAL AND NOW RUMOR HAS IT ARE SELLING ALOT OF THEIR LAREDO ASSETS.MARANO MAYOR LOVES MEXICO TO MUCH...CANT REMEMBER HIS U S GEOGRAPHY.."RIO GRANDE RIVER NOT RIO BRAVO".NO WONDER LAREDO SMELLS LIKE AN ARMPPIT!
43759219armpit? said on Saturday, May 22 at 1:39 PM
I though that was the way dark skinned latinos smell.
43770084Tell the Truth said on Saturday, May 22 at 2:55 PM
Very nice commercial for HK and the City of Laredo. I had no idea KGNS was running ads during the actual news. What a joke. Jesus Olivares did the interview while keeping a straight face. He should take up acting. The El Portal is the biggest fleecing of Laredo since Mayor Martin used the city to pave his ranch road. And “The Patron System” comment is right on the money. He named the correct scum bag that helped fleece the Tax Payers. If Horizon Group had been given the contract, we would already have a successful El Portal connected to Laredo’s first Outlet Mall. But political greed and corruption always supersedes anything that would be good for Laredo. El Portal is a scam, and one of the biggest perpetrators of this scam is a sitting councilman who is running for Mayor in November. Remember that when you are casting your ballot in the next election.
43774129Leonard Nay said on Saturday, May 22 at 3:53 PM
It is absolutely mind boggling that KGNS refuses to report the "REAL" story of El Portal and how our City got royally screwed by a certain Historical building Demolition Family and their purchased, in their back pocket current City coucilman (running for Mayor). Over the past several years, Why hasn't PRO-8 interviewed people who know the "Real" story? Oops....I forgot. They don't want to antagonize a good advertiser.
43777409THE PATRON SYSTEM said on Saturday, May 22 at 5:36 PM
THE REAL AIM OF ALL THAT TV REPORT IS THAT ..THE K'S ARE PREPARING TO ASK CITY COUNCIL TO REWORK THE CONTRACT WITH THE EL PORTAL.. JUST WAIT..SO THEY CAN CRY..ABOUT LOSSES..HARDSHIP..ETC ETC ETC..BTW..THE ARMPIT SMELL IS WHAT NUEVO LAREDO SMELLS LIKE!!!!
43782354nuevo laredo said on Sunday, May 23 at 8:08 AM
Nuevo Laredo is better than LAREDO! At least there, the population is under control by an illegal force (cartels). Here? What's Laredo's excuse? Local politicians? Ha Ha
43811069no gutts said on Monday, May 24 at 9:47 AM
pro 8 has no clue how to find out the real story here they need to apply pressure and ask the serious questions keep asking until they get the answer from the city officals afterall some of these fools will be running for mayor
43869742Ashamed of PRO 8 said on Monday, May 24 at 12:05 PM
I agree with previous bloggers....the "Real" el portal story is not being told because PRO 8 does not want to upset an advertiser. They can say what they want...but Pro 8 is so intimidated by the possible loss of revenue that they refuse to report to us taxpayers what is really going on and how much our City is being scared into "inaction" by a certain local family. The City's refusal to confront the legitimate story of El Portal is costing millions....monies our City could sure use now.
43881104lasecre said on Monday, May 24 at 2:26 PM
Pro 8 News know the whole story they just refuse to report it as it is! Maybe we should ask Gene Belmares?
43892854Diana said on Monday, Jun 21 at 12:29 PM
The city and this pseudo traders are just playing with our money, this pseudo director of operations is just only speaking about fragances, makeup and things that actually people dont need!!! our city should back up and think about just build more schools or more parks or even just a new librar not just wasting our money and usless constructions and more they are not producing anything for our city and they rremain unoquipied so why? now i think we alll have the answer
45833919marcos said on Tuesday, Jun 22 at 11:46 PM
elsa navarro is a complete uneducated person!
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