SIOUX CITY, Iowa (AP) - The City Council in Sioux City has approved at least $12 million in assistance for a $56 million project to convert two historic downtown buildings into luxury apartments and a nearly 150-room hotel.
Developer Lew Weinberg and St. Louis-based developer Restoration St. Louis plan to turn the former Warrior Hotel and Davidson buildings into a Marriott brand hotel.
The council voted 4-0 Monday for a financial package that includes a partially forgivable $5 million loan, a portion of the city's share of hotel-motel taxes generated by the facility, property tax incentives, and reduced rates for city ramp parking.
Weinberg says he thinks the work will begin this summer.
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