city-of-de-pere-development-agreement-with-de-pere-hotel-associates_a28.pdf
De Pere Hotel Associates awarded $2M TIF and $590K MRO for hotel development
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Description
De Pere Hotel Associates, LLC awarded a $2 million TIF incentive and a $590,000 MRO for the development of a 90-unit hotel project in De Pere, Wisconsin, with terms extending to the final payment date or district termination.
Contract Details
Contract Amount
$2,000,000.00
Vendor
DE PERE HOTEL ASSOCIATES
Agency
City of De Pere, WI
Contract Type
Development Incentive / Financing
Document Date
January 1, 2025
Contract Term
Effective date 2025 – Final Payment Date (not later than May 7, 2051)
Renewal Date
NA
Renewal Info
Agreement includes a $2 million project cost reimbursement and a $590,000 Municipal Revenue Obligation payable over up to 24 years with annual payments subject to tax increment availability
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