MASON CITY – The Mason City mayor and council took more steps this week to make sure the Renaissance Project takes flight, approving payouts to a hotel developer and a $8,000 study for the proposed skywalk over Delaware Avenue.
The council approved an amendment to an agreement between the City and hotel developer G8 Development. The amendment allows G8 Development to submit paid invoices to the City for reimbursement, for such pre-construction costs as design, engineering, site planning, etc for its proposed hotel in the Southbridge Mall parking lot. If the City determines that such costs are necessary for pre-construction of the hotel, the City will reimburse G8 for those costs. These pre-construction costs cannot exceed $500,000 and are part of the $3.7 million loan that the City is providing to G8. The amendment also removes the precondition that an agreement must be signed between G8 and the Mason City Foundation, which operates the Music Man Square, for a convention center.
Additionally, the council approved the purchase of a study by WHKS Engineering to examine whether the Music Man Square building can support the attached skywalk that would be built there. The study will cost $8,000.
The Renaissance Project consists of a multi-use arena, hotel, skywalk, museum, convention center and pavilion. State officials are waiting for proof of $10 million in private funds for the project to come from G8. The deadline is in May.
