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Developers seek $3.1M in TIRZ support for $90M Herring Hotel renovation downtown
Summary
City planning staff presented a proposal for a $90 million renovation of the Herring Hotel in downtown Amarillo that would create about 200 hotel rooms and event space; the developer asks the Center City tax increment reinvestment zone for a 10‑year, 100% property‑tax rebate (estimated ~$3.1M) plus a $900,000 one‑time facade/infrastructure grant, and the court scheduled a public meeting.
Drew Brasfield, assistant director of planning for the City of Amarillo, told the Potter County Commissioners Court that Herring Hotel Partners LLC plans a comprehensive renovation of the Herring Hotel at 311 Southeast 3rd, including roughly 217,000 square feet to accommodate about 200 hotel rooms, a full‑service restaurant, meeting and event space, and a rooftop bar.
"They're looking to invest around 90,000,000," Brasfield said, and the developer is requesting a 100% property‑tax rebate for 10 years that staff estimates will total about $3,100,000, plus a one‑time cash grant of $900,000 for infrastructure and facade improvements. Brasfield explained the tax increment reinvestment zone (TIRZ) mechanics, emphasizing that the developer agreement is performance‑based: "no funds will have transferred until he has performed, until it is in production," he said.
Commissioners noted prior public comment and asked staff to repeat the presentation at an additional public meeting. The court and staff tentatively scheduled that meeting for Nov. 6 in City Council chambers and said they expect the TIRZ board to take action the following week. A commissioner voiced concern about unused retail space and the downtown parking garage's financial performance, asking staff to provide occupancy comparisons to help assess potential market impacts on existing hotels.
No formal TIRZ incentive was approved by the commissioners’ court at the Oct. 27 meeting; Brasfield said the developer agreement remains performance‑based and that any TIRZ payments would occur only after project milestones are met.
