Moline Hotel Agreement
Hoping to prevent rising costs from blocking construction of a new Amtrak station and hotel in downtown Moline, city officials have re-negotiated their agreement with the developer. And tonight, they'll ask aldermen to approve an incentive for Moline Promenade Investors.
City administrator Lew Steinbrecher says the original agreement was signed in the fall of 2013, but nearly a year and-a-half later, the estimated cost has gone up 2.7 million dollars.
The developer has agreed to accept a 1.9 million dollar rebate from the city to defray part of the higher cost of the project.
Moline Promenade Investors is owned by the Amin Group which owns the nearby Radisson Hotel. And it says construction on the station and hotel could begin this summer with completion in two years.