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The CRA approved a preconstruction agreement with Restoration St. Louis, Inc. for the Walesbilt hotel restoration and authorized spending of up to $2 million. The board also adopted Resolution 2026-09 by a 5-0 vote, declaring its intent to reimburse eligible project expenses through tax-exempt debt, including costs tied to property acquisition, renovation, public parking or other municipal uses, and redevelopment planning.
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The approvals move the Walesbilt hotel project into its preconstruction phase but do not complete the restoration. The authorized $2 million can support early work and related documents, while the resolution establishes a financing mechanism for eligible expenses. The project’s historic facade, lobby, arcade, and public spaces will require formal scope approval from the National Park Service during the process.
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