Economic development loan for Courtway Park to be discussed by Clear Lake council tonight
CLEAR LAKE — The Clear Lake City Council tonight will take a major step forward with the Courtway Park Subdivision project. At their last meeting on September 16th, the council set tonight’s meeting for the public hearing to enter into an economic development forgivable loan agreement of not to exceed $4 million for the proposed project.
A letter of intent for a potential development agreement between the city and the project developer has a proposed hotel and conference center development on a 5.8 acre piece of land on the far southwestern part of the subdivision. The project would be a $16 million investment, with a hotel being not less than a mid-scale brand hotel with not less than 70 rooms. It would also include an up to 6000 square foot restaurant with an estimated 180 person capacity, and an approximately 9000 square foot conference meeting center that would be capable of accommodating between 450 to 900 people.
The council meets at 6 o’clock tonight at Clear Lake City Hall