A company owned by the husband of former Mayor Ginger Nelson has been granted approval to take over an incentive agreement potentially worth more than $800,000 following a split vote by Amarillo City Council.
The incentive, which grants a 90% property tax reimbursement for up to $849,044.99 through 2031, is being transferred from Summit NCI JV 177 LLC to Kevin Nelson’s 724 S. Polk Street Operating. Nelson’s company is currently in the process of acquiring the downtown Courtyard by Marriott hotel on Polk Street from Summit.
Transfer of the incentive required approval by both the Center City TIRZ #1 board and Amarillo City Council. After a tense board meeting last week where Nelson alluded to potential litigation if the transfer failed, the Center City TIRZ #1 board voted to give consent to the transfer, with Amarillo ISD board member Tom Warren II casting a vote against…