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Council approves economic development agreement for downtown hotel redevelopment
Summary
The council approved an economic development agreement with RK Investments Temple LP to demolish and prepare a downtown parcel at 411 N. General Bruce Drive and construct one or more hotels on a second parcel, with a minimum private investment of $8 million and up to $400,000 in city rebates over five years.
Temple City Council voted 4-0 to adopt a resolution authorizing an economic development agreement with RK Investments Temple LP LLC to redevelop two downtown parcels at 411 North General Bruce Drive (the "Mad Mango" parcel) and 1604 Calhoun Avenue.
City Economic Development staffer Miss Myers told council the project would demolish existing buildings on the…
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