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Council adopts TIF allocation resolution for downtown hotel project; bond ordinance introduced but no final action
Summary
The council approved Resolution 4-20-25 creating an allocation area and moving forward with redevelopment financing tied to the Terminal Hotel Partners project (two-phase hotel with parking podium and sky bridges). Special Ordinance 2-20-25, authorizing issuance of economic development bonds, was introduced but council did not take final action.
The Terre Haute City Council on Feb. 6 adopted Resolution 4-20-25, creating a new allocation area for the Terminal Hotel Partners project and clearing a procedural step for redevelopment financing tied to a two-phase downtown hotel development.
City and developer representatives described the overall plan as a two-phase hotel project that will include a 114-room Courtyard by Marriott in phase one and a likely 89–90 room Residence Inn in phase two, built atop a concrete podium with at-grade parking. Developer representatives said that phase one will include two elevated walkways — sky bridges — one crossing Wabash Avenue and another over Seventh Street to connect hotels, parking and nearby facilities, and that incentive dollars are targeted to the podium, parking-garage renovations and…
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