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Developer outlines $90 million Herring Hotel, seeks 10‑year tax rebate and $900,000 grant
Summary
City planning staff presented a proposed $90 million renovation of the Herring Hotel in downtown Amarillo and the developer’s request for a 10‑year, 100% tax rebate (estimated ~$3.1 million) plus a one‑time $900,000 infrastructure/facade grant; commissioners scheduled a public meeting and will relay feedback to the TIRZ board.
Drew Brasfield, assistant director of planning for the City of Amarillo, told the Potter County Commissioner’s Court that Herring Hotel Partners LLC proposes a comprehensive renovation at 311 Southeast 3rd totaling about 217,000 square feet and including 200 hotel rooms, a full‑service restaurant, meeting and event space, an outdoor pool, a rooftop bar and a parking lot. “Their request to the tiers board is for a property tax rebate of a 100% for 10 years, which we estimate will come in at about 3,100,000.0,” Brasfield said.
Brasfield explained the project within the framework of the Center City tax increment reinvestment zone (TIRZ), noting the zone’s purpose and history and that a TIRZ rebate is performance‑based: increased tax revenue is captured only after development performance is verified. He said the zone, created in 2006, has seen roughly $180 million in taxable value growth to date and that the proposed hotel would advance Center City goals around hotels and convention‑related uses.
Commissioners and staff discussed public concerns raised at a prior meeting, including complaints that new development could increase competition for existing downtown hotels and that some retail/parking assets remain underused. One commissioner summarized the earlier public response, saying there was “a lot of public comments and even some outcry” and asked staff to provide occupancy and impact data for nearby properties. Brasfield answered that the county planning office will supply occupancy information and reiterated that TIRZ rebates will not be paid unless the developer meets contract performance requirements.
The county and city staff tentatively scheduled an additional public meeting for Nov. 6 in City Council Chambers to present the proposal again and collect citizen feedback; Brasfield said the tiers board is expected to consider action the following week. The court will relay any input from that public meeting to the TIRZ board and the city council for final consideration.
