City commissioners agreed Monday to a $350,000 forgivable loan and advanced a proposal for $800,000 in tax increment financing for a Holiday Inn Express & Suites at the new Highway 2 interchange.
Finance Commissioner Gloria Glover said she prefers loans over grants because loan payments will replenish the Nebraska City Growth Fund, but hotel developer John Klimpel of Lincoln said the $8 million project is most likely to move forward with the forgivable loan as proposed.
Public Works Commissioner Paul Davis noted that Nebraska City Lodging is taking a risk by building a 70-room hotel in Nebraska City and Parks Commissioner Patrick Wehling called the hotel a tremendous economic benefit that could boost development for the whole corner.