City of Amarillo Council Meeting Agenda May 2026
Downtown Hampton Inn Incentive Agreement Approved
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Description
The City of Amarillo approved a TIRZ #1 developer agreement with Rillo Investments, LLC for construction of a $28 million, 122‑room Hampton Inn downtown. In return, the developer will receive a 10‑year, 100% property tax rebate and up to $900,000 in grant funding for eligible project costs.
Contract Details
Contract Amount
Not to exceed $900,000 grant plus 10 years of 100% property tax rebate
Vendor
RILLO INVESTMENTS LLC
Agency
Amarillo Water Utilities, TX
Contract Type
FINANCIAL_SERVICES
Document Date
May 9, 2026
Contract Term
10 years of 100% annual property tax rebate for eligible taxing entities
Renewal Info
Developer receives a fixed 10‑year rebate term; no further renewal provisions are described.
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