City of Amarillo City Council Regular Meeting Agenda April 28, 2026
Developer agreement approved for downtown Hampton Inn
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Description
The City Council approved a Center City TIRZ #1 developer agreement with Rillo Investments, LLC for construction of a 122-room Hampton Inn Hotel with a minimum $28 million investment. In return, the developer will receive a 10-year, 100% property tax rebate and an infrastructure and site-improvement grant capped at $900,000.
Contract Details
Contract Amount
Not less than $28 million private investment; up to 100% tax rebate for 10 years plus grant not to exceed $900,000
Vendor
RILLO INVESTMENTS LLC
Agency
Amarillo MPO, TX
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
10-year 100% annual property tax rebate period
Renewal Info
Provides a 10-year property tax rebate period and a grant up to $900,000; additional renewal terms not specified.
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City of Amarillo City Council Regular Meeting Agenda April 28, 2026
City of Amarillo City Council Regular Meeting Agenda April 28, 2026
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