Updated: 04/23/2014 10:25 PM
Created: 04/23/2014 9:23 PM WDIO.com
By: Laurie Stribling
A new hotel near Bayfront Park is one step closer to becoming a reality.
"The TIF plan was the last piece that was needed for the financing to come together," Co-developer Alex Giuliani said.
Giuliani and Sandy Hoff have been working on the Pier B project, a new hotel and resort. The Duluth Economic Development Authority unanimously approved a Tax Increment Financing plan for the project.
"Had there been the possibility this project could have financed itself, it would have happened by now," Assistant City Attorney Bob Asleson said.
The 26-year plan means tax money will go back into the project. After interest, they'll have about $3 million to help pay for the redevelopment.
The hotel will be built where the old Lafarge cement plant was. The site needs a lot of work which qualifies it for the TIF plan.
"We have a tremendous amount of expense just to get the land back to even ground," Giuliani said.
"That pier is a man-made structure and it has deteriorated significantly," Hoff said.
While the over $29 million hotel and resort is a big investment, Hoff said the entire community will benefit in the end.
"We're creating a revenue generating, sales-tax generating property for our community," Hoff said.
Asleson said other hotels in Canal Park used TIF plans to get started.
The city council still needs to approve the Pier B project plans.
Hoff said he hopes to break ground sometime this summer and construction will take about a year.
Chisholm-Based 114th Officially Welcomed Home
After returning from a 9-month deployment in Afghanistan, the Chisholm-based 114th Transportation Company got a proper homecoming from the community Saturday.
Burger King Construction Site Falls Victim to High Winds
The new Burger King site off Highway 53 in Duluth was a victim of high wind speeds Saturday. Crews said they were working on it around 10 a.m. when it collapsed. Wind speeds were gusting up to 40 miles per hour.
Scout for Food Event Makes Donating Easy
Local boy scouts helped grocery shoppers during the Scout for Food event Saturday. The goal of the event is to make it easy for people to donate to the annual Share Food Drive.
Chicken Kiev Linked to Minnesota Outbreak Recalled
Federal authorities say a Chicago company has recalled nearly 29,000 pounds of chicken Kiev products linked to a salmonella outbreak in Minnesota. The U.S. Department of Agriculture says the raw, frozen chicken entrees from the Aspen Foods division of Koch Meats were sold as Antioch Farms brand A La Kiev raw stuffed chicken breast.
Wisconsin Sex Offenders Must Stay Home on Halloween
Police are teaming up with parole agents across Wisconsin to make sure sex offenders stay home on Halloween night.