Clear Lake council to consider letter of intent for potential hotel development agreement
CLEAR LAKE — The Clear Lake City Council tonight will consider approving a letter of intent with WillowStream LLC for a potential development agreement to assist with a hotel and conference center project in the new Courtway Park subdivision on the east side of the community.
The council last month approved the final plat for the 64-acre tract that previously was Andrews Pre-stressed Concrete, located just north of State Highway 122 between Interstate 35 and North 32nd Street.
The proposed $16 million hotel and conference center development would be on a 5.8 acre piece of land on the far southwestern part of the subdivision. The hotel would be not less than a mid-scale brand hotel with not less than 70 rooms. It would have a 180-person capacity restaurant and an approximately 9000 square foot conference center that roughly could hold 600 people. Construction on the hotel is proposed to start in October with a completion date of October 31st 2020.
The city would rely on the new anticipated property and sales taxes generated from the development as well as other future developments in the subdivision to help offset a nearly $4 million forgivable economic development loan that would be provided to the developer once the project is completed.
The council meets tonight at 6 o’clock at Clear Lake City Hall.