Jefferson City City Council approves Truman Hotel Urban Renewal Plan
JEFFERSON CITY - The Jefferson City City Council approved the Truman Hotel Urban Renewal Plan on Monday evening.
The redevelopment will include demolition of the existing building and the construction of two new hotel buildings and a conference center. The Truman Hotel is no longer opened.
The council also agreed with the resolution that the property meets the statutory definition of a blight.
Eric Barron, Jefferson City Senior Planner, said "The statutory definition of a blight really is laid out in five different items."
These include defective street layout, unsanitary or unsafe conditions, improper platting of the property, deterioration of site improvements or conditions that endanger life or property by fire or other causes. A blight study was prepared and presented to the city council.
Barron said this is largely due to the age and deterioration of the hotel. He said the goal is to complete the first hotel in the next 18 months.
Barron said the plan will cost $50-60 million and will be paid for largely by private funds. The property will be eligible for a tax abatement on any property value increase for the next 10 years.