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Council ratifies incentives for proposed Homewood Suites-style hotel with construction and occupancy milestones
Summary
Lancaster approved incentives tied to a proposed hotel at 405 Hannah Lane (Mayflower Star LLC) including tax-rebate provisions and a conditional $140,000 grant; staff said the developer must obtain a building permit by May 31, 2027 and a CO by Jan. 31, 2030, and projected $1.128 million in new tax revenue over 10 years.
Lancaster — The City Council ratified companion incentive resolutions for Mayflower Star LLC to support construction of a 110-room hotel (or comparable Homewood Suites) at 405 Hannah Lane, approving the terms staff presented and conditions for earning enhanced rebate tiers.
Staff described the package as a series of tax-rebate incentives tied to minimum investment and schedule benchmarks. To receive the incentives the developer must obtain a building permit by May 31, 2027 and a certificate of occupancy by Jan. 31, 2030. Staff said the developer must invest at least $10 million and provide meeting space (5,000 square feet in staff's description), and noted an enhanced incentive structure if a related development group builds a second hotel on an adjacent lot.
Staff estimated the total incentive cost to the city at about $420,000 over 10 years, plus a conditional $140,000 economic-development-corporation grant if certain add-ons are achieved. Staff also estimated roughly $1.128 million in new tax revenue over the 10-year period from the project.
Council members spoke positively about the developer's track record and the potential for meeting space in this part of the city; the council moved to approve the companion items and the motions carried.
The motion and vote were recorded in the public transcript as approved; the session did not publish a roll-call vote count in the excerpt provided.
