City of Austin city Awards Financial Services Contract to Rida Cota Hotel LLC (April 2026)
City of Austin cityCity · Austin, TX- Disclosed value
- $20,000 plus an amount not to exceed the revenue the City receives from the State of Texas as a rebate of hotel occupancy tax and sales tax generated by the project over 10 years
- From staffreport
- Approved
- Apr 23, 2026
The 30-second brief
On March 6, 2025, the Austin City Council approved an agreement with RIDA COTA Hotel, LLC providing a $20,000 hotel occupancy tax contribution and a 10-year funding mechanism tied to State hotel occupancy and sales tax rebate revenues generated by a new hotel and convention center at Circuit of the Americas. The City’s payments are capped at the amount of State rebate revenues attributable to the project.
Rida Cota Hotel LLC holds this financial services contract with City of Austin city. Its other public contracts on record include work for Austin - Music Commission.
Term as filed: 10-year funding agreement (approved March 6, 2025).
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Contract details
- Contract type
- Financial Services
- Amount
- $20,000 plus an amount not to exceed the revenue the City receives from the State of Texas as a rebate of hotel occupancy tax and sales tax generated by the project over 10 years
- Document date
- April 23, 2026
- Term
- 10-year funding agreement (approved March 6, 2025)
- Vendor
- Rida Cota Hotel LLC
- Agency
- City of Austin city
- Source document
- City of Austin Staff Report File #: 26-1464, Agenda Item #: 6. 2026-04-23 (StaffReport)
Rida Cota Hotel LLC's other public contracts
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Questions about this contract
Who was awarded the financial services contract by City of Austin city?
Rida Cota Hotel LLC was awarded this financial services contract by City of Austin city, as recorded on April 23, 2026. The contract value is $20,000 plus an amount not to exceed the revenue the City receives from the State of Texas as a rebate of hotel occupancy tax and sales tax generated by the project over 10 years.
How much is the Rida Cota Hotel LLC contract with City of Austin city worth?
The Rida Cota Hotel LLC contract with City of Austin city is valued at $20,000 plus an amount not to exceed the revenue the City receives from the State of Texas as a rebate of hotel occupancy tax and sales tax generated by the project over 10 years, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a staffreport record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in City of Austin Staff Report File #: 26-1464, Agenda Item #: 6. 2026-04-23 (StaffReport), dated April 23, 2026 from City of Austin city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Rida Cota Hotel LLC hold?
Rida Cota Hotel 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.
What is City of Austin city currently buying?
Explore City of Austin city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.