Following unanimous approval by City Council at its Sept. 14 meeting, Conroe will move forward with an application to allow the Hyatt Regency Conroe and Convention Center to receive hotel occupancy tax and sales tax rebates over a 10-year period. Council Member Harry Hardman was absent from the meeting.
What’s happening?
The city of Conroe will spend $55,000 to work with a consultant, BCS, to prepare the application for the office of the Texas comptroller, according to the Sept. 13 agenda packet. Collin Boothe, director of finance and assistant city administrator, called the application process “pretty lengthy” at the Sept. 13 workshop meeting.
“It’s about the entitlement to the tax rebates that help finance the project,” BCS President Brandon Aghamalian said during the Sept. 13 workshop meeting. “I’ve worked on a number of those applications.”
Aghamalian said there have only been a handful of qualified hotel projects built since the program’s creation 20 years ago.
“Now is the time for the city to pursue the rebate, and [I’m] so happy to be of assistance in that effort,” Aghamalian said.
The backstory
The Hyatt Regency Conroe and Convention Center opened May 25 and cost nearly $109 million to construct, Community Impact previously reported. Prior to its opening, Conroe City Council approved a $5.1 million cash infusion needed to sustain hotel operations.
Stay tuned
Aghamalian said he hopes the application process will be completed within three to six months.
