Hearing Set on Federal Aid for Hotel Project
The City Council will hold a public hearing next week on a proposal to use federal funds to help finance the Waterfront Hilton expansion.
Under the proposal, the city would apply for more than $8.5 million in loans from the U.S. Department of Housing and Urban Development to finance about $6 million in public costs associated with the hotel’s expansion, and about $2.5 million to renovate the city’s gym and pool.
The HUD loans can be used for economic development projects as long as 70% of the funds benefit low- to moderate-income people, said David Biggs, director of economic development. The expansion plans call for a 500-room addition to the hotel that would create some 350 low- to moderate-income jobs.
Earlier this month, the Citizens Participation Advisory Board, which oversees the city’s Community Development Block Grant program, unanimously voted against the proposal. The city’s economic development department plans to recommend approval of the loan application.
The hearing is scheduled for 7 p.m. Monday in City Council chambers, 2000 Main St. Information: (714) 536-5227.
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