Friday, June 29, 2007

Hotel Update

No Grand Wayne funds for Harrison Square - yet
Authority delays decision to get more details on proposed hotel

"The city will have to wait another week before it hears whether $2.5 million in Grand Wayne Convention Center funds can help finance Harrison Square."

"The proposed hotel will be a 250-room, full-service hotel, but the city has yet to disclose the specific Marriott brand, such as Courtyard Marriott or Residence Inn by Marriott."

"The authority would pay the $250,000 a year to the Redevelopment Commission out of the Grand Wayne’s “operating revenues or other revenues,” and the money would specifically be used either to make lease payments to the commission on a capital lease for Harrison Square or to make annual payments directly to the new hotel for use of spaces and facilities."

Grand Wayne Board Delays Vote on Committing Cash to New Hotel

"The brand picked for a proposed hotel in downtown Fort Wayne may be a big factor in determining whether Grand Wayne Center monies go towards helping build it.

Grand Wayne Center board members on Friday postponed a decision on committing a chunk of money for construction of the hotel, saying they're uncomfortable opening their wallets for a hotel not yet named. "

"The board put off a vote until at least next Friday, allowing time for the developers to disclose the specific type of Marriott brand the new hotel will have attached to it. "

"We should know the kind of hotel that is proposed to be built across from Grand Wayne sometime the week of July 2nd. "