Incentive plan sets deadline for Landmark Hotel completion
The Daily Progress Tuesday, March 07, 2017 at 6 p.m.
The Charlottesville City Council on Monday approved a plan that could provide Atlanta-based developer John Dewberry with more than $1 million in tax breaks in return for him opening the long-dormant Landmark Hotel by 2020.
The plan that the council approved on a 4-1 vote requires the developer to agree to sell the property if he hasn’t obtained a certificate of occupancy by July 1, 2021. If the hotel remains unopened after the July 1, 2020, target date, the total grant amount allowable to Dewberry will be reduced by 2 percent each month.
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