SIOUX CITY, Iowa (AP) - A new 150-room hotel connected to the Sioux City Convention Center will be part of the city’s request for millions in state funding for a 25-acre entertainment and commercial zone downtown.
The upscale hotel, estimated to cost $20 million, is one of three large-scale projects the city has selected for its Iowa Redevelopment District application, the Sioux City Journal reported (https://bit.ly/1EpUcWG ) Saturday.
The others are a proposed $10 million to $12 million agriculture and expo center and a planned redevelopment of three former industrial buildings into offices and apartments and lofts.
The Sioux City Council is scheduled to approve a resolution Monday that spells out its intent to seek approval of its proposed reinvestment district from the Iowa Economic Development Authority Board.
City economic development director Marty Dougherty declined Friday to say how large a grant the city would seek because officials were still finalizing application plans.
Cities competing for the funding must apply by March 15, and should know by the end of June which proposals are selected to advance.
Dougherty said the city is seeking a developer for the new hotel.
In putting together the proposal, city officials followed the recommendation of a Chicago-based consultant it hired last year to study the downtown hotel market, with an emphasis on how to revive the struggling city-owned convention center.
The Sioux City Hotel & Conference Center is the only hotel currently connected to the convention center, but officials say long-running problems with the aging hotel have hurt bookings at the convention center.
The 193-room hotel was recently bought by a local hospitality group, and the new owners are spending about $1.5 million to refurbish it. But city leaders said that is still far short of the minimum investment required for a Reinvestment District grant.
Information from: Sioux City Journal, https://www.siouxcityjournal.com
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