FT. WORTH,TX— Omni Hotels reportedly is negotiating a deal for a $90 million, 600-room hotel to be built opposite the convention center here. According to the Fort Worth Star-Telegram, the Omni would pay the construction costs if the city agreed to return $25 million or more in hotel, sales and property taxes, noting the city would build a multimillion-dollar parking garage with some 1,000 spaces and would waive fees for construction and other permits. The report said the deal places the hotel and garage on city land where two parking lots now stand, adding Omni would hold a long-term lease on the site and that it has asked for an option to buy the land for $1 million after 12 years. The City Council is expected to be briefed on the plan today and could vote in the next month on a final deal, said the report, which indicated if the plan is approved, construction could start in spring 2005, with an expected opening by October 2006. SOURCE: Fort Worth Star-Telegram
