In a recent Duncanville City Council meeting, Council unanimously approved a economic development assistance package of $295,000 to SWH Duncanville LLC for construction of a 65,000 sq. ft. hotel at IH-20 and Main Street in Duncanville. This assistance package represents a reimbursement of city development fees ($45,000) and 35% of the City portion of hotel/motel taxes not to exceed $250,000 over the next four years.
Why I supported this measure:
SWH Duncanville proposes to develop and operate a 101 room Hampton Inn and Suites motel. This company is involved with hotel properties in Grand Prairie, Decatur, Madill, OK., Bowie, Fairview and Coppell. An independent economic impact analysis was conducted on this initiative and the study revealed that the City would experience a 1.1 year payback period on its investment, compared to the standard 10 year payback period. Over a ten (10) year period, the City would experience a net benefit of $2,767,080.
SWH agrees to do the following:
(1) Build a 65,000 sq. ft. 101 room Hampton Inn and Suites Hotel with indoor pool,, fitness center and meeting area
(2) Must not be delinquent in payment of ad valorem and sales taxes
(3) The hotel must be constructed and maintained in accordance with all City codes and ordinances
(4) SWH must retain ownership of the entire hotel for a minimum of five years
(5) SWH or future owner must maintain the Hampton Inn and Suites flag for a minimum of 20 years subsequent to the agreement.
Additionally, during a recent Town Hall meeting on the budget, economic development was an area the attendees thought should be a primary area of emphasis.
It’s a good deal for the City!