City of Amarillo City Council Regular Meeting Agenda April 2026
TIRZ Developer Agreement for New Hampton Inn Hotel
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Description
The City of Amarillo plans to enter a TIRZ #1 developer agreement with Rillo Investments, LLC for a $28 million, 122-room Hampton Inn Hotel near SE 10th and S. Buchanan. The deal provides a 10-year, 100% property tax rebate and up to $900,000 in grant funding for infrastructure and site improvements.
Contract Details
Contract Amount
Not less than $28,000,000 investment; up to 100% property tax rebate for 10 years and a grant not to exceed $900,000
Vendor
RILLO INVESTMENTS LLC
Agency
city of Amarillo, TX
Contract Type
OTHER
Document Date
April 24, 2026
Contract Term
10-year property tax rebate period
Renewal Info
Agreement includes a 10-year period of 100% property tax rebates; additional renewals are not specified.
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