Des Moines council approves preliminary financial package for Financial Center
BPC Staff Mar 24, 2020 | 4:09 pm
<1 min read time
91 wordsAll Latest News, Government Policy and Law, Real Estate and DevelopmentThe Des Moines City Council on Monday approved a preliminary financial package for the renovation of the 25-story Financial Center at 207 Seventh St. Plans call for 13 floors of the Financial Center to be converted to a 190-room hotel. Offices would remain on the upper floors. The renovations are expected to total $59.3 million. The financial package includes up to $7.5 million in assistance generated from tax increment financing. The project is estimated to contribute $9.8 million in hotel/motel tax during the 15 years of financial assistance, city documents show.
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