By Mike Sunnucks | Phoenix Business Journal
The Hotel Monroe redevelopment in downtown Phoenix has hit yet another roadblock.
The new owner of the long-vacant, historic building is seeking property tax breaks for a proposed 165-room Hilton Garden Inn.
But Minneapolis-based CSM Corp. cannot get them from either the city of Phoenix or Maricopa County.
That has construction of the hotel at the 82-year-old building on hold again.
Other developers and businesses have benefited greatly over the years from Government Property Lease Excise Taxes. Those involve local government owning parcels of land and then leasing the property to private entities who then benefit from lower taxes.
