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Council approves Chapter 380 incentives for downtown Herring Hotel redevelopment
Summary
The council approved a Chapter 380 economic development agreement offering performance‑based rebates of hotel and sales taxes to a developer planning to convert the historic Herring building into a full‑service hotel and event venue.
The Amarillo City Council approved a Chapter 380 economic development agreement on Oct. 28 to support redevelopment of the Herring building into a full‑service, branded hotel and event facility. The measure passed by a 4–0 vote with one councilmember abstaining.
Why it matters: The Herring is a long‑vacant, multistory historic building downtown. The project proposes extensive rehabilitation and hotel amenities (rooftop bar, event space, pool and food and beverage venues) and relies on a mix of federal/state historic tax credits and performance‑based local and state tax rebates to be financially viable.
What the agreement provides - Local hotel occupancy tax: the developer would receive rebates of 100% of the city’s local hotel tax for five years and…
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