Evansville downtown hotel closer to being a reality

Members of the Evansville Redevelopment Commission (ERC) voted today to adopt a resolution approving a project development agreement with developer HCW of Branson, MO, for the Downtown Convention Hotel Project.

The vote took place at a special ERC meeting.

Evansville Mayor Lloyd Winnecke said he is very pleased with the ERC's action. He called today's vote "a critical step" that clears the way for an ordinance approving funding for the project to be presented at the Evansville City Council meeting for first reading Monday, August 12, at 5:30 p.m.

The total cost of the project is $74 Million. The City would contribute $20 million toward the hotel and $17.5 million toward ancillary components, such as Sky bridges, Parking Garage, Retail Building, infrastructure and streetscape improvements and renovations to The Centre. Mayor Winnecke said he is confident the County will be contributing to the project.

The project is projected to create 831 jobs during construction and 235 permanent onsite jobs when the hotel and retail complex opens. The public investment will not impact property taxes and instead will be paid for using a combination of revenues from the Downtown TIF, Food and Beverage Tax, Innkeepers Tax and Riverboat Gaming. HCW will not receive tax abatement.

A series of public meetings have been scheduled throughout the city at various times and days to give the community an opportunity to hear details of the Downtown Hotel Project and ask questions. Mayor Winnecke plans to seek final approval of the deal at the September 9 City Council meeting and break ground on the project by late 2013.

Tuesday, August 13th at 6:00 pm
Red Bank Library, Howard Room
120 S. Red Bank Rd., 47712

Wednesday, August 14th at 6:00 pm
McCullough Library
5115 Washington Ave., 47715

Saturday, August 17th at 1:00 pm
Concordia Lutheran Church
2451 Stringtown Rd., 47711

Monday, August 19th at 6:00 pm
Dexter Elementary School, Auditorium
917 S. Dexter Ave., 47714

Wednesday, August 21st at 10:00 am
Central Library, Browning Room B
200 S.E. M.L. King Jr. Blvd., 47708

Wednesday, August 21st at 6:00 pm
North Park Library
960 Koehler Dr., 47710

(Story taken from the website: www.Evansville.IN.gov)

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