Funding for the re-development of Kyle Field was delayed in College Station Thursday night with the City Council voting unanimously to wait.
It's all part of a year-long effort to raise the hotel occupancy tax rate in all of Brazos County.
Taxpayers won't be paying directly for the new $450 million Kyle Field, but if you stay in a hotel or motel within the entire county you will help fund the project.
This new partnership to fund Kyle Field includes not only College Station and Bryan, but Brazos County as well with a 3/4 percent hotel occupancy tax rate increase approved by Governor Rick Perry earlier this month.
The College Station City Council will eventually make a decision for funding. That also includes an agreement with Texas A&M for a discounted rate to use facilities at Kyle Field, Reed Arena and other areas for conventions and even promoting tourism.
Here's what it means for us.
Say you are staying at an area hotel and it costs $100. Under the current 15 percent tax rate you are already paying an extra $15.
With the increase you'll be paying an additional 75 cents for a new total of $115.75.
Shannon Overby of the B/CS Convention and Visitors Bureau says the renovation of Kyle will be a big benefit here.
"And we have proven through some studies that we did last year on that it is very much an economic, makes a huge economic impact, those football games that are held here. Not just to the hotels but the restaurants, retail establishments gas stations H-E-B. It trickles all the way down to the school district because it brings taxes and money," she said.
The hotel occupancy tax rate increase is estimated to generate nearly $38 million for the project over the next 30 years.
The council will reconsider the issue on July 11th.
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