A new hotel and parking garage could be in Downtown Salina’s future.

At a study session on Monday, Lighthouse Properties will present a hotel and parking garage project to Salina City Commissioners. The project includes a Springhill Suites by Marriott Hotel and a parking garage in the 200 block of S 7th Street.

The project would be located on S 7th Street were a public parking lot already exists. Lighthouse is requesting transfer of ownership for the hotel site.

The approximately $13 million parking garage would be paid for using several funding sources:

• A portion of TIF generated in the Downtown TIF
• A portion of TIF generated in a new parking garage/hotel TIF
• Sales Tax and TGT generated by the Hotel after the STAR Bond is paid off
• CID on the Hotel
• There is potential for STAR bond proceeds to cover a portion of the cost

TIF financing, or Tax Increment Financing, is a public financing method where local governments capture the increased property tax revenue from new developments within a designated area to pay for improvements or projects in that same area.

CID funding refers to the revenue generated by a Community Improvement District (CID) to finance public improvements, infrastructure, and services within its boundaries, often through an additional sales tax or special assessments levied on property owners.

TGT refers to transient guest tax is a local tax levied on people renting short-term accommodations, such as rooms in hotels, motels, and tourist rentals.

The developer would also request support in funding the hotel through funds from some of the same sources.

The study session is scheduled for 3:00 Monday afternoon, prior to the City Commissions’ regularly scheduled meeting,  in Room 107 of the City-County Building, 300 West Ash Street

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