A plan to build a four-star hotel next to Hy-Vee Hall and Wells Fargo Arena won't happen unless Des Moines city leaders can convince the state's economic development authority to provide millions in tax incentives for the project.
Des Moines Assistant City Manager Matthew Anderson said this week is a prime example that proves why a hotel is needed next to the Iowa Events Center. Fans from across the state are coming to downtown Des Moines in droves to cheer on their favorite teams at the boy's state basketball tournament.
On Monday, City Council members signed off on submitting an application to the Iowa Economic Development Authority to create a downtown reinvestment district. The district would span Fifth Avenue from Center Street to Cherry Street and would connect the Court Avenue District and the Convention Hotel. It would allow the city to use a portion of the hotel/motel and sales tax generated from the district's projects to help pay for those very same projects.