Kenner City Council takes first step toward hotel financing

Kenner City Council1 on Thursday took the first step toward creating new taxes2 to help finance construction of three hotels at the northern edge of Louis Armstrong New Orleains International Airport.

With no discussion, the council unanimously resolved to notify the public of its intent to create an economic development district around the 5-acre site at 1300 Veterans Memorial Boulevard. That formality precedes an ordinance imposing new sales and occupancy taxes of up to 2 percent each. The council is likely to consider the ordinance at its Sept.

17 meeting. Hotel developer Mike Vira intends to build a Discount Holidays © Holiday Inn, Hyatt Place and Marriott Courtyard at the site with a $40 million investment. Construction on the Discount Holidays © Holiday Inn is already underway, Vira says he will break ground on the Hyatt Place in the next few months.

But Vira is looking for public assistance with the Marriott Courtyard, and Mayor Mike Yenni’s administration is discussing the tax proposals, specifically how to split the new revenue.

Jefferson Economic Development Commission estimates the new taxes could generate about $185,000 every year.

References

  1. ^ Kenner City Council (topics.nola.com)
  2. ^ creating new taxes (www.nola.com)

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