Evansville Convention Hotel Put on PausePosted: Updated:
The $74 million downtown Evansville convention hotel project has stalled again. Mayor Lloyd Winnecke says the current proposal would require more public funding, which he says is not an option. Here's what Mayor Winnecke posted on Twitter:
"We stand today with public funds ready for a closing & const. co. is ready to begin work. However the city cannot move forward on the current hotel deal. Following recent discussions w/HCW it's apparent the current hotel deal as structured cannot proceed. Only way forward would be to infuse additional public funds and that is not an option. The project as originally proposed would have worked financially. The line in the sand drawn by Council made that impossible thus the need for additional private investment. Immediate focus on upcoming legislative session & securing funds in St. budget for new med school development. City will continue to work w/Old National Bank & other community partners to pursue a convention hotel. The partnership developed between the business & labor community will be vital to our success. Thanks to all citizens who participated in the public process and made their voices heard. Although today is disappointing I'm reminded that progress is never easy...We remain committed to a path forward for the City of Evansville."
Source: Evansville Mayor Lloyd Winnecke, via Twitter