November 17, 2024 1:51 am
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Tempe development to get tax incentive

Screen Shot 2014-02-02 at 6.43.31 AMBy Dianna M. Náñez | The Republic | azcentral.com

Tempe has offered a developer a 20-year incentive package that could give back as much as $800,000 each year in taxes in exchange for building a hotel and conference center in the city’s downtown.

The tax incentive for the developer, USA Place Hotel Management LLC, could amount to as much as $16 million in rebates on city sales taxes and hotel-bed tax revenue.

The Tempe City Council unanimously approved the incentive last month for development at the southeastern corner of University Drive and Mill Avenue, which serves as a western gateway to Arizona State University.

ASU and Tempe have long targeted the corner for a high-end development.

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