By Miriam Raftery
October 22, 2013 (El Cajon ) – By a unanimous vote, El Cajon’s City Council today voted to enter into an exclusive negotiation agreement with Excel Hotel Group to develop a Marriott Courtyard hotel at the northeast corner of Magnolia Avenue and Rea Street in the Civic Center block.
The proposal hinges on the state selling and to the city of El Cajon at the corner of Magnolia and Rea. The City would then sell the land to Marriott for a dollar and give up a portion of the transient occupancy tax (TOT) for a few years. At the end of ten years, the city expects to receive enough revenue from property taxes and TOT to repay the city the cost of the land.
“It sweetens the pot for them to spend several million dollars,” Councilman Gary Kendrick told East County Magazine. He calls the deal a “win-win” for all parties.