N&R reports:
Developers of a proposed downtown Wyndham luxury hotel are asking the City Council for more than $8 million to help build it and a parking deck.
Elm Street Center Hotel has asked for a $1.35 million incentive grant.
The group of local and Washington D.C.-based investors also asked the city to lease a parking deck that they will build as part of the project. Under the original proposal, the city would pay up to $7.1 million to lease the parking deck over 25 years — and essentially help reduce the developers’ costs.
Ballsy request. Speculation is whether or not the current City Council will take action or if it will be postponed for the incoming council.
