September 14, 2020–9:32 p.m.
The Rome City Commission has approved agreements related to Tax Allocation District funding for a new hotel that would be located adjacent to the Rome Tennis Center at Berry College.
The TAD would be for $1.72 million or 10 years.
Under a TAD, net new property taxes go back to the developer for a certain period of time to help defray development costs.
Rome City Commissioner Wendy Davis said the development represents a 12-million dollar investment.
“The hotel will be approximately 92 rooms,” she said. “It will be situated beautifully next to the tennis center. It will be fully-functional to work together to help us recruit larger tournaments.”
The City of Rome has four other existing TAD agreements.
They are the River Walk TAD where Olive Garden and Las Palmas is, the East Bend development at the former Kmart site, the Marriott on West Third Street and the River Point apartments adjacent to State Mutual Stadium.