How is the rehabilitation of the Fort Piqua Hotel being funded?
A. The funds are from a fairly complex combination of sources. Some of the funds are already fully secured, and some are still tentative. They include: a. City of Piqua funds – the city has set aside $1.7 million that has tentatively been earmarked as “Hotel funds.” In addition there is $800,000 in excess workers comp and insurance reserves that the commission may commit to the project as well as $300,000 in street funds for right-of-way improvements. These funds are all subject to final approval by the City Commission. b. State of Ohio Grants – the city has secured $400,000 from the state of Ohio for roof repair plus $1.3 million for the clean-up of environmental issues. The state cultural facilities commission has tentatively approved $210,00 for the museum component of the project. Also, the Community Development Block Grant fund can contribute up to $360,000 in “formula” funds, and an additional $250,000 in a special “Targets of Opportunity,” grant. c. Library lease – The library l
