Green light for Courtyard by Marriott to finally get going? County Commission OKs TAD funding, reports WRGA

From WRGA: Floyd County commissioners approved a tax break for the proposed Courtyard by Marriott hotel Tuesday, clearing the way for construction to begin next month.

Rome city commissioners already had agreed to $2.5 million in funding as part of the tax allocation district that would be allocated over the next 12 years for the 100-plus room hotel on West Third Street.

The TAD works like this, a $14.6 million hotel is built and just like any other property owner, the owners would pay their annual property taxes. The governments would then remit back a portion each year until reach the $2,500,000 allotment.

The kicker: Duke Hospitality must start construction by Feb. 15 or the TAD offer expires per language proposed by city commissioners.

Also Tuesday: County commissioners reappointed Larry Maxey as chairman. Rhonda Wallace was named vice chairman.

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