Youngstown hires Cleveland firm for downtown hotel project
YOUNGSTOWN
The city’s board of control hired a law firm at $400 an hour to serve as its attorney during the financing aspect of a downtown hotel project.
The contract with Calfee, Halter & Griswold LLP would pay the Cleveland firm up to $25,000 to be the city’s associate counsel as it negotiates with the NYO Property Group, which is building the $31 million DoubleTree by Hilton hotel at the Stambaugh Building.
“There are a number of documents, a multiple stack, regarding financing and [Calfee] will represent the city’s interests,” said city Law Director Martin Hume.
The documents deal with money the project is receiving from the Ohio Water Development Authority, $9 million in federal and state historic tax credits, private lenders, the developer’s equity and money from the city, Hume said.
Read more about the contract and the project in Wednesday's Vindicator or on Vindy.com.