The last time the Des Moines City Council and Polk County Board of Supervisors met in a joint session may have been when both bodies were considering a big – as in $217 million big – project on the north side of downtown Des Moines.

In a joint meeting Monday, both groups met to discuss a project for roughly the same territory and walked away approving plans for the $101 million Iowa Events Center convention hotel. To read more about the plans, visitBusinessRecord.com.

Christine Hensley, who has been a councilwoman since 1994, canvassed her council cohorts and the best memories placed the last joint session “about 15 years ago.” That was about the time the city and council were engaged in negotiations with the state for development of the Iowa Events Center complex in exchange for city development of a range of signature projects, including the Science Center of Iowa and the World Food Prize Hall of Laureates.

The hotel will front Fifth Avenue, just north of Park Street and in the shadow Wells Fargo Arena – the aforementioned $217 million project. Wells Fargo Arena and its adjoining buildings at the Iowa Events Center could host bigger events and draw more people to Greater Des Moines if a convention center hotel were nearby, officials have said.

In light of Monday’s meeting, the 10-story hotel, with 330 rooms, meeting and banquet facilities, could grace the downtown skyline.

And so far as finances for the hotel are concerned, they could benefit in a big way from the county-owned Iowa Events Center and Prairie Meadows Racetrack and Casino.

The county uses gaming revenues to make the annual $14.5 million debt payments on Wells Fargo, Hy-Vee Hall and the $32 million renovation of Vets. A $6 million reserve fund that the county set up at the request of the Vision Iowa board, the state program that took effect in 2000 to help pay for big tourism projects, is being used to buy and clear the land where the events center hotel will be located.

Supervisors also will guarantee up to $20 million in hotel debt in case the operation falls short of the revenue to pay mortgages. Polk County Administrator Mark Wandro said the county will refinance the Iowa Events Center debt if that backup is needed.

 To read about the unique way officials secured $20 million in private financing from about 40 foreign investors, click here.