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FORT MYERS, Fla. (September 30, 2019) – Hampton Inn by Hilton Fort Myers, a four-story, 118-room hotel to be built in the Downtown redevelopment area, was approved for a tax increment rebate of $1.9 million at the Fort Myers Community Redevelopment Agency (CRA) Board of Commissioners meeting on September 25, 2019.
Developers Hos Management/HBH FTM HOTEL LLC will build the Hampton Inn by Hilton Fort Myers at 2017 McGregor Boulevard, a building site they already own. The project will incorporate Hampton Inn’s prototype contemporary, confident design scheme that reflects modern, timeless décor.
The Hampton Inn by Hilton Fort Myers project will receive a $1.9 million rebate of the taxes generated by the project in yearly installments at a rate of 95% for the first five years and at a rate of 75% for the remaining years until the total rebate amount is reached. The $16 million project is projected to open in 2023.

 

 

About Community Redevelopment Agencies
Community Redevelopment Agencies have proven historically to provide distressed communities with a better economy through improved infrastructure, job opportunities, and housing. Their mission is to make housing and urban areas safer for residents, to preserve and grow business, and to provide a sense of place for all who live there. CRAs have demonstrated that the use of Tax Increment Funding (TIF) dramatically improves the economic and social outcomes within their targeted areas. These outcomes benefit both cities and counties and, more importantly, the taxpayers.
About the Fort Myers Redevelopment Agency (CRA)
The Fort Myers Community Redevelopment Agency was created in 1984 by the City of Fort Myers, Florida, under Florida Statute Chapter 163, to formulate a plan and strategy for the revitalization of the downtown River District. The Fort Myers CRA has continued to grow, and redevelopment areas have been added throughout the city. Today, the Agency oversees 12 different redevelopment areas within the Fort Myers city limits. The Fort Myers CRA, along with the City’s Community Development Division, prepares plans for the revitalization of each area and coordinates the implementation of the plan’s recommendations. Tax Increment Funds (TIF) generated by each area, combined with other funding sources, are used to upgrade the public infrastructure and to stimulate redevelopment in the same area where it was generated. The Fort Myers City Council members, sitting as the Community Redevelopment Agency, oversee the Agency’s divisions and their operations. The Fort Myers CRA office is located at 1400 Jackson Street in the Downtown River District. Contact: 239-321-7100
About Hos Management/HBH FTM HOTEL LLC
From truly humble beginnings, brothers Kirit and Anil Patel started with one hotel and built a premier hospitality empire grounded in family values and industry excellence. Today, Hos is a second-generation hospitality and development group with over 30 years of industry experience managing a diverse collection of iconic hotel brands, including Hilton, Choice, IHG and Marriott, throughout the Southeast region. With a solid financial, development and managerial structure in place, Hos has successfully cultivated long-standing relationships with hotel partners, investors and most importantly, guests. The philosophy behind the Hos brand and their enduring success is simple: family. As a company, Hos is committed to cultivating a comfortable and welcoming atmosphere for hotel associates and ambassadors who will in return take exceptional care of our valuable guests. We are proud of the legacy we have built as a thriving family-oriented hospitality brand invested in the region. Our mission today and in the future is to continue to build thriving, sustainable hotel properties, provide incredible guest experiences, and give back to the communities in which we do business through company and employee-driven philanthropic initiatives. Hos Management is located at 1000 Town Center Blvd., Suite 503, Pooler, GA 31322. Contact: 912-344-4538.

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