Plans are progressing for a new hotel in Two Rivers. City Manager Greg Buckley says the city has been working for several months with an investor group headed by Rick Kerry, President of Metal Ware Corporation in Two Rivers.
Buckley says the city has prepared a proposed tax incremental district (number 12) that would encompass the former Suettinger Hardware property on South 16th Street.
The Two Rivers City Manager adds that they are also working on an application for a Community Development Investment Grant from the Wisconsin Economic Development Corporation that would provide up to $250 thousand in public funding to assist in the project. In all, about $6 million would be invested with $1 million each coming from the proposed TIF and public funding and $4 million in bank financing. The City Council plans to vote on the proposal September 4th then on to the Joint Review Board for a final vote September 5th.
