The Amarillo City Council voted 4-1 on Oct. 14 to allow the transfer of an existing tax‑increment/tier incentive tied to the Courtyard by Marriott downtown (724 South Polk). The assignment moves the remaining portion of a long‑running property‑tax rebate agreement to a new owner/operator entity.

Why it matters: The incentive — originally approved in 2008 and previously reassigned in 2021 — grants a high-percentage rebate of municipal property taxes for a set term and was designed to support downtown hotel development adjacent to the convention center. All property‑tax rebates already paid under the agreement were not at issue; the vote concerned an assignment of the remaining years and remaining rebate cap to a different legal owner.

What the action covered
- The original agreement granted a 90% annual property-tax rebate for up to 20 years with a capped total reimbursement. Under prior council action the hotel’s agreement was transferred to Summit NCI (2021).
- Council approved another assignment of the remaining rebate (the balance toward the original cap) to 724 South Polk Street Operating LLC. The tiers board had recommended the assignment; the council vote was 4 in favor, 1 opposed.

Why some council members opposed: Dissent focused on the handling of the item by the tiers board and questions about whether the public and board members had sufficient time and documentation to vet the transfer. One council member said the reassignments and internal handling gave the appearance of insufficient transparency and said the council should not reward a process that moved outside standard public engagement channels.

Supporters’ view: Other council members and tiers representatives noted the assignment matched the contract’s assignment clause and that previous assignments (including the 2021 transfer) set a precedent for allowing transfers so long as material terms did not change. City staff said the transfer does not increase the city’s fiscal obligations and that any payments due will come from legally defined rebate flows set in the original contract.

Ending: The decision allows the new owner to receive the remainder of the contractual rebate stream as written in the original agreement, subject to the original cap and the city’s accounting and reporting requirements. The split council vote underscores lingering community concern about how tax-incentive transfers are noticed and managed; several council members urged staff to tighten public transparency and to apply the new donation/monument and incentive procedures being developed by the city.