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South Park Marriott Wants $67 Million Tax Break...Or Else

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The LA Live-adjacent double Marriott tower--which will house both a Courtyard and a Residence Inn--already has bulldozers moving dirt around South Park. But the Portland, OR developers of the 392 room hotel are throwing their weight around in an effort to get tax breaks from the city, according to the Los Angeles Times. As noted earlier in the year, the city is considering hefty tax incentives for the developers--possibly half of all the hotel's tax receipts (sales, business, hotel room, utility, property, and parking) over the next 25 years, or approximately $67 million (sounds like a lot, although without the hotel, the city and state wouldn't be getting the other $67 million). The City Council's tourism committee is set to vote on that exact deal tomorrow. The city argues that DTLA needs more hotel rooms if the Convention Center hopes to remain a national contender (and if the Farmers Field NFL stadium comes through, there's no question there will be a need for more rooms). The city is also feeling a bit of pressure from developer Williams/Dame who told the Times they would "reevaluate" their commitment to their hotel project if the tax breaks don't happen (crafty). Meanwhile, other big downtown hotel projects, like the Wilshire Grand and a hotel component of the Grand Avenue project, also have big incentives attached to them.
· Downtown L.A. hotel builder seeking $67.3 million tax break [LA Times]
· Keep the Taxes, South Park Marriotts [Curbed LA]

Marriott Courtyard/Marriott Residence Inn

930 S. Georgia St., Los Angeles, CA