A revised request for a preliminary review of a hotel development in downtown Mankato will go before the city’s economic development authority next week. Downtown Mankato Properties are looking to build a 117-room Marriott hotel. City officials say since the December EDA meeting, the developer has been refining development cost after determining there is extraordinary cost associated with constructing above the parking ramp on Cherry Street. The developer says the cost of the delta that exists between constructing the hotel on a Greenfield site as opposed to the ramp site is nearly 914-thousand dollars. The developer is requesting part of the delta could be funded by the city’s tax abatement and if the county’s share of the taxes are also abated those could be used for the public parking improvements discussed last month. The matter will be discussed will further next Monday night.
Revised Request for a Preliminary Review of a Downtown Mankato Hotel Development to be Discussed Next Week
By |2020-01-09T10:35:41-06:00January 9th, 2020|