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201801776
| 1 | | Motion | MOTION, submitted by Councilmembers Mann, Dennard and Vice Mayor Smitherman, WE MOVE that the administration report on: 1. the legality of the Current apartment building converting 70 units to short term rentals under applicable development agreements. This portion of the report should summarize all incentives granted to this part of the Banks including tax abatements, direct payments, etc. and advise whether this "pivot" from apartments to short term rentals is permissible without city approval; 2. if this substantial change in use is permissible, whether such changes should be prohibited with respect to future residential rental developments without concurrent city approval; and 3. whether this new activity at the Current constitutes a "hotel" under applicable tax provisions and whether hotel level tax payments are being made and, if not, what steps are being taken to collect them. (STATEMENT ATTACHED) | | |
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