BEATRICE – The Beatrice Planning and Zoning Commission will review a proposal next week for an extended stay hotel project, in north Beatrice.
The project, a MyPlace Extended Stay Hotel would offer between 46 and 52 rooms and would be located on what is now parking area of the Holiday Inn Express Hotel.
The project is seeking tax increment financing and went before the Community Redevelopment Authority, Friday morning. The developer proposes spending of more than $4 million on the 47-thousand square foot, multi-level hotel. Each room of the hotel would feature a kitchenette, full size refrigerator, a microwave and cooktop. It’s expected that the business would provide ten to fourteen new jobs.
The project site currently has a valuation estimated at $69,000. When completed, the hotel property estimated valuation would be about $2.35 million. Tax Increment financing would be used for land acquisition, site development, architect and engineering fees, utilities, a drive and sidewalks.
The Beatrice Community Redevelopment Authority Friday also forwarded a proposed downtown development project that would use TIF, to the Planning and Zoning Commission. The Hevelone Building Redevelopment Plan proposes renovating eleven thousand square feet of office space, in a two-story brick building just south of Security First Bank.
The project is also making use of a community development block grant building front improvement program. When fully renovated, the building’s estimated property valuation would be about $700,000.
Both projects forwarded to the P-and-Z are in qualified redevelopment areas declared as blighted and substandard.