By Brice Wallace 

After several stops and starts, a long-desired hotel adjoining the Salt Palace Convention Center has a state-funding green light.

The Governor’s Office of Economic Development (GOED) board last week approved an incentive of up to $75 million in incremental state sales taxes over 20 years, and incremental city and county sales and property taxes over 25 years to get the $337 million project underway at the southeast corner of West Temple and 200 South and connected to the Salt Palace.

With the generation of $55 million in upfront equity, the project will feature $281 million in private equity from Portman Holdings, based in Atlanta, and third-party equity investors.

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