BREAKING NEWS A record 6.6 million seek US jobless aid as layoffs mount Full Story
SEVERE WX : Winter Weather Advisory View Alerts
CLOSINGS: View Closings

Clear Lake City Council approves letter of intent with developer

The letter of intent spells out preliminary terms of the agreement between the city and WillowStream LLC, the developer of the hotel and conference center.

Posted: Aug 5, 2019 11:02 PM
Updated: Aug 6, 2019 6:47 AM

CLEAR LAKE, Iowa - In a unanimous vote, the city council voted to approve the letter of intent with WillowStream LLC, who will develop a hotel, restaurant and conference center along I-35 and Highway 122.

At the meeting, city administrator Scott Flory said he's confident about working with the developer and he praised them for the speed in which the deal was done.

The letter of intent says the developer must build a hotel with no less than 70 guest rooms, a 180-person capacity restaurant, and a 9,000 square foot conference center.  It also says the project should be completed by October 31st of 2020.  

On the city's end of the agreement, they are providing a $4,000,000 forgivable loan to the developer.  According to city councilman Bennett Smith, the city will make the money back on property and sales taxes that are generated by this development, and others that might come in the future.

Article Comments

Mason City
44° wxIcon
Hi: 63° Lo: 37°
Feels Like: 37°
Albert Lea
Scattered Clouds
45° wxIcon
Hi: 61° Lo: 32°
Feels Like: 39°
Scattered Clouds
46° wxIcon
Hi: 63° Lo: 40°
Feels Like: 41°
Charles City
45° wxIcon
Hi: 62° Lo: 46°
Feels Like: 37°
43° wxIcon
Hi: 60° Lo: 44°
Feels Like: 35°
Scattered showers on Thursday
KIMT Radar
KIMT Eye in the sky

Latest Video


Organizations host webinar about available resources


Training your dog with virtual classes


Sara's Daybreak Forecast - Thursday


StormTeam 3: When will rain become a mix?


Remembering the journey, not the destination


How germs work, and viruses spread


Dr. McDonough Talks Vitamin D


Chris' PM Weather Forecast 4/1


Farmers hurt by coronavirus


Dr. McDonough on protective masks

Community Events