EDMOND —
A panel soon may ask the City Council to act on funding for a proposed hotel and conference center at Interstate 35 and Covell Road.
City Attorney Steve Murdock said he anticipates the city may ask the Capital Projects and Financing Task Force to consider recommending to the City Council and the Edmond Public Works Authority the use of funds from the Capital Projects Sales Tax Fund to let it proceed with the I-35/Covell project. The 7.13-acre development would be located on the northwest corner of the interchange.
Assistant City Manager Steve Commons said the city intends to spend $11 million on the project. Commons said of that amount, $2.2 million is for the conference center/hotel land purchase, $4.8 million for conference center development, $2 million for infrastructure development and $2 million to buy land for an indoor sports complex on the other side of I-35.
The task force is scheduled to meet next on Oct. 16 at the Planning and Public Works Building, 10 S. Littler.
Murdock said the recommendation may include the purchase of property for the indoor sports complex and to fund the city’s investment in the conference center. It may include management and development agreements and a ground lease for the center as well as a development agreement and ground lease for the sports complex, Murdock said.
City officials also anticipate asking for a recommendation regarding transferring funds from the Capital Projects Sales Tax Fund to the Real Property Fund to reimburse that fund for the purchase of the real property for the center, Murdock said.
“These matters are all tentative and depend on the completion of these agreements and the negotiations with the involved parties,” Murdock said.
Details set out in agreements delivered Tuesday are in draft form and subject to change, Murdock said.
The current scope of the community conference center is a roughly 20,000-square-foot public facility to be owned by the EPWA, according to the development agreement between the city, the EPWA and the developer, Covell Partners in Development.
Present plans for the conference center include a 10,000-square-foot ballroom capable of hosting multi-day meetings for groups up to 400 and large banquet events up to 800 along with other usual facilities and amenities associated with a high-quality conference center.
Estimated project costs for the conference center and hotel are $25 million, subject to revision, Commons said. The city/EPWA would pay the cost to build the conference center up to $4.8 million, according to the development agreement. The developer, which would pay all excess costs, would have the option to buy the conference center for the $4.8 million anytime after construction is completed.
Project scope for the proposed Hilton Garden Inn includes about 160 guest rooms and support facilities including a restaurant, lounge or bar, food prep areas and other amenities such as a pool and fitness room. The developer would pay all construction costs for the hotel, which would be privately owned and operated.
Janet Yowell, executive director of the Edmond Economic Development Authority, reminded the panel that the city does not currently have a high-end conference facility.
marks@edmondsun.com | 341-2121, ext. 108
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