The City of Eagle Pass received a $3.5 million federal grant more than five years ago to convert the historic Riskind Building into a business incubator. The Eagle Pass Business Journal reports that questions remain about whether the project has met its original goal of helping entrepreneurs start businesses, create jobs and become financially independent.
The city received federal approval in February 2021 for the grant from the Economic Development Administration, which was funded under the CARES Act. The city was required to add $875,000 in local matching funds, bringing the total investment to $4,375,000. According to the federal grant announcement, the project was expected to create 35 jobs and generate about $200,000 in private investment.
The Eagle Pass City Council is set to consider an application to lease commercial space inside the Riskind Building for a proposed karaoke bar at its special meeting on Wednesday, November 4, 2026.