File #: 25-0360    Version: 1 Name:
Type: Motion Status: Passed
File created: 3/6/2025 In control: Reinvestment Zone No. 3 - Downtown
On agenda: 5/13/2025 Final action: 5/13/2025
Title: Motion to approve a 1st amendment to the TIRZ #3 Downtown Development Reimbursement Agreement with YC Texas Hotel, LLC for the property located at 601 N Water Street, to change project name and hotel brand from Hotel Arya to Hilton Spark and a project extension from May 30, 2025 to December 31, 2026, effective upon signature by the City Manager or designee.
Sponsors: Downtown Management District, Economic Development
Attachments: 1. TIRZ #3 Agenda Memo- 1st Amendment to Hotel Arya, 2. TIRZ #3 Presentation - 1st Amendment to Hotel Arya, 3. TIRZ #3 Original Contract - YC Texas Hotel LLC, 4. Hotel Arya to Hotel Spark - Amendment No 1, 5. Letter Requesting 1st Extension Letter- Hotel Arya

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Motion to approve a 1st amendment to the TIRZ #3 Downtown Development Reimbursement Agreement with YC Texas Hotel, LLC for the property located at 601 N Water Street, to change project name and hotel brand from Hotel Arya to Hilton Spark and a project extension from May 30, 2025 to December 31, 2026, effective upon signature by the City Manager or designee.