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Omni Hotel PILOT Incentive

Project Overview

  • 250 Fifth Avenue South, Nashville, TN 37203 and 224 Fifth Avenue South, Nashville, TN 37203
  • Parcel ID: 093100B00300CO and 093100B00200CO
  • Metro Council District: 19
  • Approval Date: October 19, 2010
  • Ordinance BL2010-764

Summary of Deal

  1. Economic Development Enhancement Grant: Annual payment over 20 yrs valued at $103 million out of excess tourism taxes generated within the Music City Center campus.
  2. TIF: $25 million in 2011
  3. PILOT: Abatement of 62.5%.

Total Estimated Value

Not available

Jobs

  • Added / New Jobs: 300
  • Retained Jobs: 0
  • Total Expected Jobs: 300
  • Jobs as of 12/31/2016: 682

Total Capital Investment

  • $250,000,000