For example, Anaheim established a market Revenue Per Available
Room (RevPAR), and any new projects receive a rebate of transient occupancy
tax created over and above this set base. A case in point is
Lake Development which reached a TOT rebate agreement with the City
of Anaheim for mixed-use, 252-room hotel project to be located across
the street from the Anaheim Convention Center at the intersection of Harbor
Boulevard and Katella Avenue. This project enhances the center by
adding high quality guest rooms that are convenient to what is one of the
West Coast’s largest exhibition halls. Terms include a potential TOT subsidy
for a period of 15 years and up to a maximum of $44 million in TOT
reimbursements.