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Developer seeks $3 million tax‑rebate plan for two Marriott‑brand hotels; council to review taxing‑entity agreement
Summary
A developer told Price City officials he plans two Marriott‑brand hotels and is seeking roughly $3 million in rebated transient taxes over a 10–15 year schedule; taxing‑entity committee review is scheduled and the agreement could come to council in January.
City staff and a presenter described a proposal for two new hotels near the Market Express corridor and a developer request for a tax‑increment style rebate of roughly $3,000,000 sourced from newly generated transient taxes.
The project: The presenter described two phases, each hotel costing about $12–12.5 million. The plan uses newly generated transient‑occupancy taxes (transient taxes) and proposes a rebate schedule spread over 10 to 15 years; staff…
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