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Prospective Marriott/Fairfield hotel discussed as possible East Main Corridor TIF project
Summary
Hendricks County economic partnership introduced a proposed Marriott/Fairfield hotel near Walmart (approx. $17.9 million) and discussed possible TIF assistance to cover a developer financing gap; the commission asked for more details at the next meeting.
A prospective hotel development near the East Main Corridor drew preliminary discussion at the March 13 Danville Redevelopment Commission meeting.
Brian Billinger, identified as the executive director of the Hendricks County economic partnership, described a proposed Marriott/Fairfield flag hotel on a parcel near Walmart with an estimated development cost of about $17.9 million. He said the developer has obtained property and is seeking an operator; the project has gathered letters of support from local institutions including the fairgrounds and hospital. The developer reportedly faces a financing gap of about $1.5 million that could be addressed with tools such as TIF assistance, though no formal request or application was before the commission.
Billinger and commissioners discussed market timing, potential room counts and the county partnership agreed to continue coordinating with the developer and the commission. Commissioners agreed to continue the conversation at a future meeting with more detailed project materials.
"He's looking to cover a delta of $1,500,000," one speaker said when discussing the developer's financing gap; no formal motion or vote to provide incentives was made at this meeting.
The commission requested more detailed financials and a follow-up presentation before taking any action to create or amend a TIF area for the project.
