River City Renaissance project development agreement taking longer than expected

The project would include a hotel, convention center, multipurpose arena, museum and skywalk.

Posted: Apr 2, 2019 6:34 PM
Updated: Apr 2, 2019 7:56 PM

MASON CITY, Iowa- Residents of Mason City are no strangers to delays with the River City Renaissance project. The project would include a hotel, convention center, multipurpose arena, museum and skywalk.
City leaders said they wanted to have a development agreement with the hotel developers, Gatehouse Capital, by the end of March to present to the Mason City City Council but that wasn’t the case.
City Administrator Aaron Burnett said the delay stems from changes into the project as well as ironing out who is going to be in charge of the skywalk.
While the idea of having the development agreement completed by the end of March was more of a goal than a deadline, Burnett said it won’t impact the completion date just yet.
“A day we lose here I don’t believe has a direct correlation to the end result,” he said.
Burnett said they want to move quickly in getting the project finished in order to capture state funding to pay off the bonds the city is using to fund portions of the project. The longer the project takes to get completed could mean state funding could run out.
Burnett said he does plan on having the development agreement in the hands of the council by the second city council meeting on April 16th. The city will be meeting with the IEDA board to update the project's progress.

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