- Associated Press - Tuesday, January 28, 2014

SIOUX CITY, Iowa (AP) - An effort to renovate a downtown Sioux City hotel has faltered after a developer acknowledged it couldn’t find an upscale hotel brand as required for city officials to grant incentives for the project.

The City Council on Monday canceled a public hearing on the Sioux City Hotel & Convention Center project because the developer, Conor Acquisitions, had emailed the city to report on its so far unsuccessful search, according to the Sioux City Journal (https://bit.ly/L6Tpjx ).

Under a deal announced in November, Conor Acquisitions would buy the 193-room foreclosed hotel property for $4 million and spend $6.5 million on renovations. The city would contribute $1 million to renovations and provide a property tax rebate and designate parking in a city ramp.

The city required that an upscale hotel brand be contracted. Conor could still buy the hotel and bring in any hotel chain, but the city wouldn’t provide any incentives.

The city isn’t involved with the sale and can’t control who buys the property.

Ragen Cote, the executive director of the business group Downtown Partners, said it was better to wait if all needed elements of the plan weren’t lined up.

“Sometimes it’s OK to start over,” she said.

The 12-story hotel opened in the 1970s, and officials have said it needs extensive renovations. The hotel’s deteriorating condition has been blamed for a drop in event bookings at the adjacent city-owned Convention Center. The hotel and conference center are linked by a skywalk.


Information from: Sioux City Journal, https://www.siouxcityjournal.com

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