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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 noted alternatives that would change the percent of tax increment returned to the developer (present material showed an estimated 63.83% share to the developer under the current phasing, with an alternative that would reduce that share to about 50%). The presenter said the first hotel could begin construction next year and take about a year to build, with the second beginning later.
Why it matters: Council members raised concerns about effect on existing hotels, local meeting/conference capacity and whether the new properties would serve the kinds of visitors (teams and conferences) the city wants. Staff noted the developer currently owns a Holiday Inn Express in the area and argued the new properties target different market segments.
Process and timeline: Staff said a taxing‑entity committee meeting and Zoom presentation are scheduled to vet taxing allocations; if timely approvals occur, the agreement and related documents could be before the Price City Council in January for formal action. Staff emphasized that multiple taxing entities (Price City, Carbon County, the school district, the water conservancy district and others) must approve the agreement before developer incentives are available.
Ending: No incentives or agreements were approved at the workshop. Staff asked council members to be prepared to review the taxing‑entity materials at an upcoming meeting.
