Cobblestone Inn & Suites

 

The Smart Growth Plan had identified the desire for a local hotel.  The focus groups for the Economic Development Plan repeated the need.  Over coffee at the local café, residents would comment that a hotel would be nice for visiting friends and relatives.  The discussion was much the same in business meeting rooms: a hotel in Evansville would benefit the business community, especially the larger employers.

WHG Companies approached the city about the possibility of building a hotel in Evansville.  It was easy to look on a map and see no hotels for 15-20 miles in any direction.  Evansville had enough residential and commercial development to support a smaller hotel.  And they were in the process of starting a new chain franchise well suited to our local market.

The city council recognized that the hotel would fill a need for both residents and businesses.  It would also benefit the retail and dining establishments in Evansville.  After months of discussion, the City agreed to provide $300,000 in tax increment financing as an incentive to their building the $2 million, 31-unit hotel just off Highway 14.  The financial projections and development agreement for the assistance have the city recouping its investment within 11 years.  The new hotel – the second in the Cobblestone Inn & Suites franchise – opened for business in August 2008.

In time for the hotel's opening, the city council enacted a local room tax to support marketing efforts to attract visitors to Evansville, an additional benefit for both the community and the hotel.