Resolution would authorize City Manager to negotiate loan for Winthrop Hotel
Council members are scheduled Dec. 5 to continue discussions about a resolution to authorize the City Manager to negotiate a loan agreement in the amount of $1 million with Prium Companies to assist in the redevelopment of the Winthrop Hotel. The $1 million of Urban Development Action Grant repayment funds would be budgeted from the Special Revenue Economic Development Fund. The Winthrop Hotel would be redeveloped for hotel and street level retail.
Post by David Seago on |
December 1, 2006 3:48 pm
Hotel yet, but this item from next week’s Tacoma City Council agenda suggests that Prium’s plans are moving ahead. We’ve heard nothing to suggest the deal is going awry, but we’d feel a lot better when we know for sure Prium actually owns the building. (Our latest editorial on the subject here.)