Mason City council tonight to set date for approving downtown hotel development agreement

MASON CITY — The City Council in Mason City tonight will set the date of the meeting at which it is proposed to approve a development agreement for the hotel portion of the River City Renaissance project.

The city has been working on finalizing an agreement with ES 2024 Mason City Hotel Associates, an LLC connected to Kinseth Hospitality Corporation, to start construction on a downtown hotel later this year. Kinseth has told city officials they want to have construction start in August as they had all but finalized their plans for the hotel.

A proposed development agreement for the hotel was to be placed before the council back in March but it was postponed.

City Administrator Aaron Burnett indicated at the council’s last meeting that the development agreement would allow for a loan guarantee of $2 million, a loan of $2 million and a tax rebate plan

The council meets at 7 o’clock tonight in the Mason City Room of the Public Library.