April 19, 2024 5:27 pm
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Tempe considers tax incentive for developer of Monti’s site

Nick Bastian / Flickr
Nick Bastian / Flickr

By Dianna M. Náñez | The Republic | azcentral.com

On Thursday, the Tempe City Council could spark more emotions linked to the Arizona landmark when officials consider whether to offer a controversial tax-abatement incentive to the developer of the iconic site.

The project is slated to include a 274-room Kimpton Hotel, 281,319 square feet of Class A office space, retail and 1,100 parking spaces on the southwestern corner of Mill Avenue and Rio Salado Parkway.

Tempe’s deal with Hayden House Tempe LLC includes an eight-year property-tax break for the project through the Government Property Lease Excise Tax program.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.