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Hutchinson authorizes taxable IRBs for Amber Hotel; 10-year tax abatement requested
Summary
Council approved an ordinance authorizing issuance of taxable industrial revenue bonds for Amber Hotel LLC (the Hilton Inn convention hotel). Staff said the city becomes leaseholder while bonds are outstanding and that the city is not responsible for paying the debt; a 10-year property tax abatement was requested by the developer.
The Hutchinson City Council on Nov. 4 approved an ordinance authorizing the issuance of taxable industrial revenue bonds (IRBs) for the Amber Hotel project, a Hilton-branded hotel adjacent to the convention center.
Angela Richard, Hutchinson director of finance, explained the process: if the bonds are issued the city becomes the leaseholder of the property while the…
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