Taxes will go to promote downtown hotel - WALB.com, Albany News, Weather, Sports

Taxes will go to promote downtown hotel

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November 25, 2003

Albany - The new downtown hotel and conference center will reap direct benefits from tax money it brings in. City leaders strike a deal they hope will help all of downtown prosper.

The city will allow the new downtown hotel to put aside nearly $2,000,000 in hotel/motel tax money to promote downtown. The Hilton Garden Inn and Conference Center won't pay hotel/motel taxes to the city for five years.

City leaders approved a deal to put an estimated $360,000 a year in an escrow account. The Convention and Visitors Bureau will use that money to market the hotel and other downtown attractions.

"We have to market this hotel somehow if we want it to prosper," said Tommy Coleman, Albany Mayor.

The city agreed to pay for street lighting, pedestrians crossings, and allot 100 spots in the Civic Center parking lot to hotel customers. The City and County also tentatively agreed to pay off a $5,500,000 HUD loan, if the hotel defaults on the loan.

Posted at 11:05PM by kathryn.murchison@walb.com

 

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