May 14, 2019

Ground is broken for new hotel near Tucson Convention Center

Arizona Daily Star “The convention hotel project was eligible for the City of Tucson and Rio Nuevo’s Government Purchase Lease Excise Tax (GPLET), which has spurred a lot of development downtown.

‘As you’ll recall, the GPLET provides a temporary abatement of property taxes in exchange for increasing the value of the property by at least 100 percent,” Mayor Jonathan Rothschild emphasized. “To be eligible for the GPLET, independent economic analysis must show that taxpayers benefit more than the developer.’” Read more…