- Incentive Website
- Incentive Status: Active
- Application Due Date: Ongoing
- Available Funds: 50% of new increment Hotel Visitors Tax is rebated back to developer over a 10 -15 year period or until the funding gap is reached per the negotiated agreement.
To spur the development of high quality hotels (four to five -star rated or AAA four Diamond or above), the City of Santa Ana offers an economic incentive to close the funding gap in a proposed high quality hotel development.
A feasibility analysis would be completed for the project, whereby a projection of operating performance is combined with project development cost in order to determine the funding gap. A financial firm would be used for the feasibility analysis which would be funded by the developer.
The City would pay for the funding gap through the Hotel Visitor Tax (HVT) incremental revenue over a period specified in each negotiated agreement. The City would use a percentage ( 50 percent) of new incremental HVT generated by the new development to fund the payments. Incremental HVT equals the amount of new HVT that the new hotel development generates from a baseline ( Year 0).
Do I Qualify?
How to Apply
For more information visit our website or call 714-647-6588. You can send us an email using form below.