Tuesday, July 18, 2017

Normal Hyatt Place Backs Off Request For More Public Money

Taxpayers in Normal are getting a bit of a break, for now.  The local Hyatt Place hotel in Uptown Normal yesterday said it's withdrawing a request for 264-thousand-dollars in public support to stay open. The hotel had said it needed the money to get a better deal on refinancing its debt.  Hyatt managers say they canceled their request when they learned the new Illinois budget will mean 300 thousand-dollars less in tax money for the town of Normal.  The town already helped build the hotel with special financing and a deeply discounted land price.

No comments:

Post a Comment