The proposed project will not generate nearly the amount of tax increment or jobs that the developer

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PHILADELPHIA (CBS) Mayor Nutter s plan to give a tax break to a developer who wants to build two new hotels in Center holiday inn sunspree resort jamaica City has drawn protests from other hotels in town. The plan comes before City Council later this week.
A city council committee on Thursday will debate Mayor Nutter s plan to give a tax break known as a TIF (Tax Increment Financing) holiday inn sunspree resort jamaica for a planned hotel complex at 15th and Chestnut. holiday inn sunspree resort jamaica That site once held an office building that was torn down after the 1991 Meridian fire and is now a parking lot.
The current owner, Brook Lenfest, plans two hotels at the site: an Element and a W. Nutter says the resulting 700 rooms will be needed if the Convention Center is able to book two major gatherings at the same time:
Some hoteliers are fighting the tax break, which would save the developer about $30 million. Several spoke out against the idea in City Council this past week. Among them was Sean Clancy, general manager of the nearby Loews Hotel:
The proposed holiday inn sunspree resort jamaica project will not generate nearly the amount of tax increment or jobs that the developers claim. And the city may very well end up giving away more money in subsidies than it receives in additional taxes.
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