Tax Deal For $133M Texas Hotel Complex Wins City Nod

Law360, New York (December 11, 2013, 4:25 PM EST) -- The city council for Georgetown, Texas, approved a tax incentive deal on Tuesday that helps push forward a long-delayed, approximately $133 million hotel, conference center and apartment project near Austin.

In a series of unanimous votes, the city councilmembers approved adding some parts of the project's land to the Rivery Park Tax Increment Reinvestment Zone, which makes the development eligible for subsidies based on future expected taxes, and extended the zone's terms to 2041. Additional zoning changes and agreements regarding the paying back of certain debt...
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