The City County Observer has learned tonight that members of the Evansville City Council led by Councilman John Friend and the Office of the Mayor have agreed to delay a vote on the downtown convention hotel to allow for sufficient time to vet the project.
The vetting is expected to be done by the firm Crowe Horvath but will not go forward without an open discussion and a vote of the City Council next Monday at the meeting that the Winnecke Administration had hoped would result in an affirmative vote of the council to borrow the money required to provide HCW of Branson, MO with incentives of $37.5 Million to build a downtown convention hotel. $20 Million of that amount is a direct subsidy for the hotel while the balance is to develop a parking garage, a storage facility for Ford Center, and other associated infrastructure.
Despite six meetings in the Wards of the city of Evansville where supporters of the project that included labor union representatives, the convention and visitors bureau, and Mayor Winnecke himself only two members of the city council (Weaver and Mosby) have openly offered support for the project in is present stage of vetting. It has become clear over the last couple of days that holding an up or down vote Monday night would have resulted in a failure so both sides agreed that Councilman Friend was right and that a through vetting process of the project and HCW is in order.
One of the components of the vetting process is expected to be a comparison of the projections vs. the financial reality of what happened with the flagship hotel at Branson Landing during its first 5 years of operation.
this is a developing story