There are 17 article(s) tagged tourism development zone:

• November 2022

  • City council to review Downtown Sheraton surcharge

    Council members will discuss the proposed Tourism Development Zone 5% surcharge — which would be charged on hotel guests’ bills — at an 8:30 a.m. committee session Tuesday, Nov. 15.

    By Bill Dries November 14, 2022

• July 2022

  • Graceland bonds hit snag on payment

    Elvis Presley Enterprises had to transfer money from a reserve fund to cover the cost of some bonds, but some bonds were unable to be paid.

    By Ben Wheeler July 25, 2022

• February 2022

  • City Council approves $5M for Tom Lee Park redesign

    The ARPA funding is in place of Tourism Development Zone revenues the city pledged as part of a $10 million contribution toward the $62-million redesign of Tom Lee Park currently underway.

    By Bill Dries February 01, 2022

  • City Council to vote on $5 million for Tom Lee Park

    Council members also will meet Marvell Mitchell, the CEO of a local software company, who is the new leader of the city division that keeps track of how much business city government does with minority contractors and businesses. 

    By Bill Dries February 01, 2022

• April 2021

  • Downtown Tourism Development Zone lost $5M in sales tax

    On “Behind The Headlines,” the incoming CEO of the Downtown Memphis Commission says federal pandemic relief funding due the city will likely make up the loss. The drop in sales tax revenue for the TDZ comes as sales tax revenues across the city have exceeded bleak projections at the outset of the pandemic.

    By Bill Dries April 30, 2021

• November 2020

  • COVID takes bite out of Downtown tourism fund

    Four months of the COVID-19 pandemic carved $4.2 million out of annual income from the Downtown Memphis Tourism Development Zone. 

    By Wayne Risher November 30, 2020

• April 2020

  • City Administration: No need for reserves, sales tax has cushion

    Mayor Jim Strickland plans to keep his April 21 date to present his budget proposal for the new fiscal year to the city council as his administration evaluates the impact of the COVID-19 virus on sales tax revenues that finance some of the city's biggest construction projects.

    By Bill Dries April 07, 2020

• October 2019

  • Memphis, Loews sign development agreement for new convention center hotel

    The City of Memphis and Loews Hotels have signed a development agreement for a $220 million hotel on Civic Center Plaza, funded in part by public incentives.

    By Wayne Risher October 10, 2019

• August 2019

  • Bid to block Memphis hotel incentives proceeds in Nashville court

    A Davidson County chancellor on Thursday, Aug. 15, left intact key challenges by Sheraton hotel against tax incentives for a proposed rival Loews convention center hotel in Memphis.

    By Wayne Risher August 16, 2019

• July 2019

  • Nashville court airs dispute over incentives for 2nd Memphis convention center hotel

    Lawyers for Memphis, the Downtown Memphis Commission and Sheraton sparred Tuesday in Davidson County Chancery Court over a bid to block state-approved incentives for a new Loews Hotel.

    By Wayne Risher July 18, 2019

• May 2019

  • Graceland TDZ mistakenly shortchanges public schools

    Tourism development zones provide little to no direct benefit to public schools from growth in local sales taxes, despite public statements to the contrary over the years.

    By Wayne Risher May 21, 2019

• April 2019

  • Bass Pro Shops at Pyramid annual sales tick up for first time

    Bass Pro Shops at The Pyramid posted its first ever year-over-year sales increase in 2018. The city released sales numbers in response to a public records request.

    By Wayne Risher April 06, 2019

  • Downtown tourism development zone captures sales tax growth

    A special tax financing district Downtown has ginned up more than $223 million since its inception in 2001, capturing sales tax growth for projects to lure more visitors.

    By Wayne Risher April 05, 2019

• March 2019

  • Loews hotel project wins clear path to tourism zone financing

    The Tennessee General Assembly has cleared up a couple of issues that created uncertainty for a proposed $220 million Loews hotel near the Memphis Convention Center.

    By Wayne Risher March 15, 2019

• December 2018

  • TDZ expansion approved for second convention center hotel

    The Tennessee Building Commission's executive committee has approved an expansion of the Downtown Tourism Development Zone for a second convention center hotel in Memphis.

    By Bill Dries December 17, 2018

• October 2018

  • Fairgrounds TDZ plan goes to Nashville next month

    Memphis Mayor Jim Strickland's administration will take its Tourism Development Zone plan for the Fairgrounds to the Tennessee Building Commission for approval next month.

    By Bill Dries October 18, 2018

  • Downtown tourism zone revenues decline for second year

    Downtown tourism development zone (TDZ) revenue fell for a second straight year, signaling lower spending at Bass Pro Shops at The Pyramid and other businesses.

    By Wayne Risher October 08, 2018