Floyd County commissioners approved a tax break for the proposed Courtyard by Marriott on West Third Street Tuesday. The move now permits construction to begin within the next month. The proposed agreement states that Duke Hospitality must begin construction by February 15th to get the $2.5 million TAD funding.
The tax break will be over the next 12 years.
As part of the deal, the city of Rome would remit over $50,000 a year, the Rome Board of Education would give up over $101,000 and Floyd County would give up close to $56,000 a year in tax money.
Commissioners were unanimous minus Rhonda Wallace who abstained from the vote because she works for the bank that will be loaning the money for the project.
Officials with the hotel said that the completion date is set for early next year.
Commissioners also reappointed Larry Maxey as chairman and Rhonda Wallace was named vice chairman during the meeting.
County Attorney Wade Hoyt was reappointed with a $500 increase in his retainer. He will now make $2,300 a month as the county’s attorney.