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Roanoke details eligibility and tax-abatement terms for new hotels and adaptive reuse projects
Summary
City staff listed eligibility criteria for the Hotel Abatement Program: new construction or substantial rehabilitation of buildings 30+ years old, projects must add rooms, be valued at 120% of comparable hotels, and cannot demolish historic buildings; tax abatements last five years citywide, up to 15 years in special districts.
Roanoke presenters outlined the program's eligibility and limitations, saying eligible projects include new hotel construction or the substantial rehabilitation of non-hotel buildings that are at least 30 years old. Agency official (S1) said projects must add new rooms, be valued at least 120% of comparable hotels, and cannot involve demolition of historic buildings.
The program offers temporary real estate tax abatement to encourage both new hotel development and adaptive reuse of older properties. "The tax abatement lasts 5 years citywide with terms of up to 15 years available for projects located in the enterprise zone, conservation district, or rehabilitation district," Agency official said. Prospective applicants were directed to contact city staff for detailed application requirements and verification of site eligibility.
