City of Lincoln
2005 Media Releases
Mayor Coleen J. Seng today said the economy of the City would benefit from the downtown hotel project that is proposed for the Antelope Valley Project area. In response to the City’s adoption of the Antelope Valley Redevelopment Plan last fall, hotel developer John Q. Hammons of Springfield, Missouri announced in December 2004 a proposal to build an $18 million four-story, 150-room Residence Inn by Marriott® on the block bounded by 17th, 18th, “P” and “Q” streets.
“As the first major proposal for private investment in response to the Antelope Valley Redevelopment Plan, this hotel project would be a catalyst for the entire downtown area and would stimulate further private revitalization efforts,” said Mayor Seng. “The hotel by itself is expected to generate an additional $485,000 in tax revenue annually.”
The City Urban Development Department said the additional tax revenues will come from three sources:
City officials said the project would have additional economic benefits:
The Antelope Valley project area was declared blighted by the City Council in July 2003. In November 2004, the Lincoln City Council approved the Antelope Valley Redevelopment Plan, which allows the City of Lincoln to work with private investors to build new projects in the area. Earlier this month, the Lincoln-Lancaster County Planning Commission advanced the hotel project to the City Council.
If the project is approved by the City Council, John Q. Hammons Hotels will submit more detailed plans for the Residence Inn by Marriott® in response to a City request for proposals. Other developers could submit competing proposals for the same site, and the Mayor said the selection process will be open and competitive. Once a redevelopment agreement is negotiated with a developer and approved by the City Council, the City’s role likely would be to assemble the land and assist businesses now on the block to relocate.
If the Hammons proposal is selected, he said he intends to break ground for the Residence Inn by July 2005.