Hutchinson city officials are still working on bringing a new hotel to the northeast quadrant of land at the intersection of Highways 7 and 15.
The proposal was first brought to the council about a year ago.
At Tuesday night’s city council meeting, Economic Development Director Miles Seppelt gave an update to the council, along with a resolution to approve a purchase agreement and development agreement with Titanium Partners LLC.
Seppelt said environmental aspects of the process is what has been taking time to move the project forward.
By approving the resolution, the city in essence agreed to prepare the lot by putting in an access road, retaining wall, and retaining pond, worth about $300,000 in development costs.
However, Seppelt and the council agreed that before the city would spend any money, they would have to get commitment by the developer.
Seppelt says if the process continues as planned, construction on the $3-million project would begin in September of this year and would be complete in April of 2018.
As far as return on investment, Seppelt says over a 40 year period, for every dollar put in by the city, just under six dollars would be brought back in.