Developers of The Bend in East Moline now have the financial backing needed to continue the riverfront project. At a special meeting last night, the city council approved a $10.2 million line of credit for the development.
Earlier this month, approval was delayed after aldermen had questions about the second phase of the project. Project Manager, Mike VanDeHeede, says the council approved the line of credit for infrastructure, such as roads, water, and sewer.
In addition, the East Moline City Council decided to hire an accountant on a temporary basis, to keep track of project expenses.
The developer is a company called, Great River Property. About a year ago, it broke ground on the first phase of "The Bend on the Mighty Mississippi." The $80 million first phase includes the nine-story Hyatt hotel and more than 80 apartments.
It's located where CNH used to build combines.