The incentives package to help a St. Augustine-based developer restore the former Ambassador Hotel downtown and build an apartment complex next door is on its way to City Council.
The Mayor’s Budget Review Committee OK’d legislation language for the project on Monday. Incentives include a $1.5 million grant from the Downtown Historic Preservation and Revitalization Trust Fund to restore the hotel along with a $4.9 million tax rebate over 15 years to build the 200-unit apartment complex and parking structure on next door… [Read More]
