City OKs Plan to Seek HUD Funds for Hilton Expansion
The City Council on Monday gave the Economic Development Department the go-ahead to apply for federal funds to help finance the Waterfront Hilton expansion.
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.
But the council was lukewarm on seeking money from HUD and will revisit the issue later in the year.
The HUD loans can be used for economic development projects as long as 70% of the funds benefit low- to moderate-income people. The hotel expansion plans call for the creation of about 350 low- to moderate-income jobs.
The Citizens Participation Advisory Board, which oversees the city’s Community Development Block Grant program, unanimously opposed the proposal last month. Representatives argued that using federal money aimed at helping low- to moderate-income people should not go to the expansion of a hotel.
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