MIDLAND – The city council has approved development of the $169 million Hotel Santa Rita, which will add 135 rooms, at least 8,000 sf of meeting space, ground-floor retail, and an 800-space parking garage to the city.
The City of Midland will contribute property tax rebates and hotel occupancy tax rebates for ten years.
The hotel is expected to generate a $25.3 million tax benefit over the ten-year incentive period and over $67 million in tax benefits over 20 years for all taxing entities.