Monthly Archives: October 2008

Broadview tax breaks and 21st Street changes on city council agenda

The Broadview Hotel may lock in its new owners next Tuesday. That hinges on a city council vote that, if it goes as it did a few weeks ago, will likely lead to approval. The vote will essentially let Drury Southwest Inc. buy the hotel with a city-backed finance package that will allow the nationwide company to remodel every room and take over maintenance of the public parking garage on the east side of Waco. Under the letter of intent, the city would give Drury up to $25 million in industrial revenue bonds to buy the hotel for $6 million. The remainder would be used for renovations.The letter also gives Drury management of the city-owned parking garage across Waco Street and allows the company to buy the garage after five years for $800,000. It will remain open to the public. (For more, see a PDF of the Council agenda.) Read More »