TUCSON, Ariz. (AP) - Tucson’s downtown redevelopment board has approved financing incentives for construction of two new hotels.
The deals approved Tuesday by the Rio Nuevo District board will provide the developers with rebates on sales taxes that the properties collect once the hotels open for business.
One hotel’s site is currently a parking lot next to the Tucson Convention Center. The other is a vacant lot.
Officials said construction will be privately financed.
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