New Orleans City Council Approves Payment-in-Lieu-of-Taxes Deal for $625 Million Omni Headquarters Hotel
NEW ORLEANS, Orleans Parish, Louisiana - The New Orleans City Council voted on November 5 to approve a resolution authorizing a payment-in-lieu-of-taxes agreement for the planned $625 million Omni headquarters hotel, clearing a key hurdle for the large hotel project at the Ernest N. Morial Convention Center. The resolution, introduced by Council Vice President Matthew Willard, provides that the developer will make payments in lieu of local property taxes under a set formula to the Orleans Parish School Board and other taxing bodies in the city, with benchmark requirements to protect local employment attached. The hotel is planned with more than 1,000 rooms and about 100,000 square feet of meeting and event space, and is expected to create about 2,500 construction jobs and 1,400 permanent jobs while adding roughly $8 million a year in local tax revenue. The council said the project would draw more convention and leisure visitors and strengthen the city's hotel and convention economy. The developer had previously held several rounds of talks with the city over the tax and employment terms.
(Source: New Orleans City Council)
Source: New Orleans City Council
Published by GSM · USA (original Chinese edition)
Photo: 图：新奥尔良市政厅。图片来源：Wikimedia Commons（GSM 城市固定图库）。 / Photo: New Orleans City Hall. Photo: Wikimedia Commons (GSM city asset pack).
