Placer County is offering new economic incentives to support redevelopment in North Lake Tahoe, focusing on Tahoe City and Kings Beach. The North Lake Tahoe Economic Development Incentive program, created in 1960s, provides support for projects that improve the environment and economy. New incentives are on the table for properties that would update older accommodations in the area, according to the Placer County.
The evo hotel in Tahoe City is set to receive an 80% share of the transient occupancy tax for nine years, as reported by the Placer County. This amounts to approximately $112,283 per year. In return, the hotel plans to install a new HVAC system and make other improvements, including updated floors, fixtures, and enhancements to its restaurant, bar, and outdoor areas.
Placer County is reviewing the proposed 39 North project in Kings Beach, which would include a 170-unit hotel and condominium complex. The county has issued a conditional commitment for 106 tourist accommodation units. The developers have revised the plan over the past 18 months, reducing the building height from six to four stories and the number of units from 217 to 170. The project includes a new entrance on Salmon Avenue and considerations for green space and workforce housing. It still requires approval from public and environmental stakeholders before moving forward.
