SIOUX CITY, Iowa (AP) A developer has been unable to find an upscale hotel brand required to gain city incentives for the downtown Sioux City Hotel & Convention Center
The City Council on Monday canceled a public hearing on the project because the developer, Conor Acquisitions, had emailed the city to report on its so-far unsuccessful search.
Under a deal announced in November, Conor Acquisitions would buy the foreclosed hotel property for $4 million and spend $6.5 million on renovations. The city would contribute $1 million to renovations and provide a property tax rebate and designate parking in a city ramp.
The city required that an upscale hotel brand be contracted. Conor could still buy the hotel and bring in any hotel chain, but the city wouldn't provide any incentives.