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Council opens hearing on enhanced enterprise zone application for Preza Hotel project
Summary
The council held a public hearing on an enhanced enterprise zone application for Preza Hotel, LLC; staff said the project’s estimated $4.8 million investment and 15+ employees would likely qualify it for a 60% property tax abatement for 10 years under state rules.
City economic development staff briefed the council on an application under Missouri’s Enhanced Enterprise Zone (EEZ) program for a project by Preza Hotel, LLC.
Staff summarized the EEZ background: Missouri’s program provides property tax abatement for qualifying industry classifications (manufacturing, warehousing, distribution and certain accommodations under NAICS codes). Staff recounted the city’s prior participation and said…
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