WF councilors discuss possible tax breaks for DoubleTree hotel - Newschannel 6 Now | Wichita Falls, TX

WF councilors discuss possible tax breaks for DoubleTree hotel

Possible DoubleTree Hotel Possible DoubleTree Hotel

Wichita Falls city leaders gave taxpayers a chance to speak about the DoubleTree hotel proposed for near the MPEC, but no one did.

On Tuesday, councilors held a public hearing to discuss tax breaks proposed for the hotel project at 300 Travis Street.

City Manager, Darron Leiker, said the city is offering a ten-year abatement to developers.

Incentives like these are common and are offered by governments for big development projects like these to be completed.

"We use tax abatements for economic development incentives all the time," Leiker said. "And it's a critical part of our tool box for economic development."

So far, the city has gathered their money for the project. However, the developer, Gatehouse Capital, has yet to secure their portion of the financing.

Leiker said that Gatehouse Capital would own the hotel and city would own the conference center.

Next meeting councilors are expected to take action on a possible tax abatement. Stay with Newschannel 6 as we continue to follow this developing story.

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