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Originally Posted by Los_Lobo
According to the Sacramento Business Journal, the subsidy isn't going to Saca. It's going to the Intercontinental Hotel Group. I agree The Towers project would probably have gone on with or without the subsidy, but the IC Hotel might not have.
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In August, the IC group issued a press release stating they had finalized a contract with Saca to open a hotel in his Towers project. The hotel is owned by Saca and operated by IC group under license to some other IC entity. There was no mention that the hotel happening was contingent on a subsidy being received from the City. Saca has been advertising the signing of the hotel deal for months. If they had already finalized a contract back then, why is that now there is speculation that the IC Hotel might not have gone forward without the subsidy?
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