Officials have approved a package of tax incentives for private developers that clears the way for construction of a towering convention hotel in the heart of Salt Lake City.
After months of behind-the-scenes negotiations, state, county and economic-development officials voted Tuesday in support of up to $75 million in post-performance tax rebates for private firms Portman Holdings and DDRM over 20 years, in exchange for constructing a 29-story hotel with up to 750 rooms, expansive meeting spaces and a grand ballroom.
"It's been the little-big hotel that could," said Scott Beck, president and CEO for Visit Salt Lake, leader of Salt Lake County's efforts to attract tourism and conventions.