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Aiken City Council approves Hotel Aiken redevelopment deal with Oliver Hospitality, council splits over parking costs
Summary
Aiken City Council approved agreements to stabilize and market the Hotel Aiken and to support construction of a parking deck, authorizing up to $2 million (plutonium-settlement funds) for stabilization work; the vote passed with one council member opposed after extended public comment and debate over terms and costs.
Aiken City Council voted Dec. 8 to approve a development and stabilization agreement with Oliver Hospitality Group aimed at renovating the long-vacant Hotel Aiken and building an associated parking deck, advancing a project council members said will drive downtown investment.
The ordinance authorizes the city manager to execute two agreements: one to stabilize and improve the hotel and surrounding properties and a second to provide for a developer-built parking deck. City staff told the council the city acquired the block for roughly $7.5 million and that an independent appraisal found the hotel’s value at $2.5 million. As part of the deal, the city will hold — and not immediately remit — up to $2,000,000 from so-called plutonium-settlement…
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