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Copy of the agreement
Previous Agreement Number:
Officer Title: Economic Development Coordinator
Phone Number: 832-489-6143
Email: MMoore@wacotx.gov
Comptroller’s Online Chapter 380-381 Economic Development Agreements Database
Note: For agreements that do not have a set expiration date, the expiration date will show as 12/31/2078. All information has been provided by local governments. Only agreements that are or were active as of Sept. 1, 2021, when HB 2404 went into effect or agreements that have been entered into, amended or renewed since then are required to be reported to the database.
Waco
Chapter 380-381 economic development agreement information as reported to the Comptroller by this entity.
About This Local Government
Local government type: City
Local government code: 0004034
Type of agreement: New
Record filed: 04/25/2022 02:23
Address of Local Government
Address
P.O. Box 2570
Waco, TX 76702
Contact information for officer/other person representing the local government
Kent George
Economic Development Director
254-750-5682
KentG@Wacotx.gov
Entity Information
Entity Name: KB Hotels
Assumed Name of the Entity:
Business Address of Entity:
Entity Contact Phone Number:
Entity Contact Email:
Agreement Information
Effective Date of Agreement: 12/16/2018
Expiration Date of Agreement: 12/31/2028
Counties that the agreement affects: McLennan
Total Monetary Value of Agreement:
Terms on Which Agreement Expires:
Source of Money Used or Type of Tax Implicated By the Agreement:
Agreement Information
Agreement Number: 0004034
Purpose of Agreement
KB Hotels agrees to build 3 new hotels in Waco through investing no less than $19,250,000.00 in real property improvements and $2,450,000.00 in personal property improvements. KB Hotels will also create 85 Full-Time Jobs and 20 Part-Time Jobs. The City of Waco will refund 55% of the Hotel Occupancy Tax levied by the City of Waco paid by the properties.
Copy of the agreement
Previous Agreement Number:
Contact information for person submitting agreement to database
Officer Name: Matt MooreOfficer Title: Economic Development Coordinator
Phone Number: 832-489-6143
Email: MMoore@wacotx.gov