Council Approves Tax Break For Hotel Developers
Columbus City Council last night approved a 10-year property-tax break for developers of the University Plaza Hotel and Conference Center on Olentangy River Road near Ohio State University, to allow for changing the facility into a Marriott hotel.
Council tabled the measure last week after J.D. Singh, the owner of four other hotels, said the University Plaza owners can afford to refurbish the property without the tax break, and the break creates an unlevel playing field. Columbus Development Director Steve Shoney says creating an unlevel playing field is a concern, but the section of Olentangy needs redevelopment.
The tax break is worth 4.3 million dollars.