Brazos County Commissioners Approve Kyle Field Funding AgreementsFeatured Stories, News Tuesday, July 23rd, 2013
The tax rate at Brazos County lodging establilshments will go up September 1.
That’s after the county commission approved funding agreements Tuesday with A&M and the Convention and Visitors Bureau (CVB) for the redevelopment of Kyle Field.
During the 30 year life of the $450 million dollar bond issue, the CVB will be able to rent campus facilities at reduced rates.
The county’s share of the hotel occupancy tax (HOT) goes up three-quarters of one cent.
Brazos County Judge Duane Peters says that’s projected to generate at least $450,000 a year.
The county will continue a two cent HOT tax, which goes towards paying the bond issue that funded the expansion of the Expo center.
DuanePeters072313kyle.mp3WTAW’s Bill Oliver visits with Duane Peters.
A&M System Chancellor John Sharp issued this statement: “I want to express my sincere gratitude to the County Commissioners for their support of the Kyle Field redevelopment project. This agreement finalizes and reinforces a very unique town and gown relationship that should be a model for others to follow. The preferred access to select Texas A&M facilities should be a real catalyst for new business in Aggieland, creating incremental economic development on a 365 day a year basis.”
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