TIRZ Developer Agreement Proposed for New Hotel

Scope & details

The full contract record, as filed.

Contract amount

Annual reimbursement of 100% of ad valorem tax increment for up to 10 years, plus a one-time reimbursement (grant) not to exceed $900,000

Contract type

FINANCIAL_SERVICES

Contract term

Up to ten (10) years of annual TIF reimbursements starting the second fully valued tax year after project completion; Zone terminates December 31, 2056

Renewal date

2056-12-31

Renewal

Agreement term ends after ten annual reimbursements commence and are paid, or upon earlier complete performance or expiration of the Zone; one-time right by Developer and City to extend deadlines up to 180 days for good cause; no automatic renewal beyond Zone termination.

Document type

Agenda

Source document

Center City Tax Increment Reinvestment Zone #1 Board Meeting Agenda April 2026

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City of Amarillo Council Meeting Agenda May 2026

APPROVED

Amarillo Water Utilities, TexasNot to exceed $900,000 grant plus 10 years of 100% property tax rebateMay 9, 2026

City of Amarillo City Council Regular Meeting Agenda April 28, 2026

APPROVED

Amarillo MPO, TexasNot less than $28 million private investment; up to 100% tax rebate for 10 years plus grant not to exceed $900,000Apr 28, 2026

City of Amarillo Minutes Regular Meeting 2026-04-28

APPROVED

city of Amarillo, TexasNot to exceed $900,000 grant plus 100% property tax rebate for 10 yearsApr 28, 2026

City of Amarillo City Council Regular Meeting Agenda April 2026

City of Amarillo Council Regular Meeting Agenda April 2026

APPROVED

city of Amarillo, TexasNot less than $28 million private investment; not to exceed $900,000 grant plus 10-year 100% property tax rebateApr 24, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Amarillo city?

Rillo Investments Llc was awarded this financial services contract by City of Amarillo city, as recorded on April 15, 2026. The contract value is Annual reimbursement of 100% of ad valorem tax increment for up to 10 years, plus a one-time reimbursement (grant) not to exceed $900,000.

How much is the Rillo Investments Llc contract with City of Amarillo city worth?

The Rillo Investments Llc contract with City of Amarillo city is valued at Annual reimbursement of 100% of ad valorem tax increment for up to 10 years, plus a one-time reimbursement (grant) not to exceed $900,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Center City Tax Increment Reinvestment Zone #1 Board Meeting Agenda April 2026 (Agenda), dated April 15, 2026 from City of Amarillo city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Rillo Investments Llc hold?

Rillo Investments Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Rillo Investments Llc's profile

What is City of Amarillo city currently buying?

Explore City of Amarillo city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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Scope & details

Related contracts

Frequently asked questions

Who was awarded the financial services contract by City of Amarillo city?

How much is the Rillo Investments Llc contract with City of Amarillo city worth?

What type of contract is this?

Where was this contract approved?

What other contracts does Rillo Investments Llc hold?

What is City of Amarillo city currently buying?

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