GREEN BAY, WI (WTAQ) - Green Bay's Redevelopment Authority, along with the city, has agreed to purchase the downtown Clarion Hotel for $2.85 million.
The purchase (which was allowed by Judge William Atkinson Monday) will be included in the total cost of the future planned expansion of the KI Convention Center. It will not include residential property taxes, according to a release from Mayor Jim Schmitt's office.
The sale of the Clarion is separate from the eventual sale of the bar Coaches Corner, adjacent to the hotel. The purchase of the 146 room hotel comes after the property was placed into court-ordered receivership last summer.
According to the Seth Dizard, representing Great Lakes Inn Management, the city made the highest of four offers it received; the $2.85 million is $1 million less than what is owed to Bay Lakes Bank on the property.