Recently the Iowa Economic Development Authority awarded eighteen communities around the state with Community Catalyst Building Remediation grants. The City of Stuart was one of the communities, chosen to receive $100,000 from the program.

The City plans to use the funds to help Project Restore renovate Hotel Stuart. The project plans include turning the first floor into a restaurant with hotel suites on the second floor. According to the proposal, Project Restore’s Vision for the project would be similar to the Temple for Performing Arts in Des Moines, which currently houses Centro Restaurant. They also hope the renovations will attract more visitors, weddings, and other special events.

The current cost of the project is $761,964. In addition to the $100,000 in grant money, Project Restore requested $125,000 in Tax Increment Financing (TIF) from the City and estimates receiving $370,000 in state and federal tax credits. The project is set to be completed in June of 2019.