A company owned by the husband of former Amarillo Mayor Ginger Nelson may soon acquire a lucrative downtown property-tax incentive worth more than $800,000, following a heated vote Thursday by the Amarillo Downtown Tax Increment Reinvestment Zone (TIRZ) No. 1 board.
The board voted 4–1 on Oct. 9 to approve reassigning a 20-year rebate agreement for the Courtyard by Marriott hotel to 724 S. Polk Street Operating, LLC, whose president, Kevin Nelson, is purchasing the property from Summit Hotel Properties. Nelson is the husband of the former mayor.
The incentive, first approved in 2008, reimburses 90% of property taxes through 2031, with a total potential value of $1.65 million. According to city records, Summit has already received more than half that amount in rebates since 2011.
Thursda