Hutchinson to get redevelopment funding

The Minnesota Department of Employment and Economic Development (DEED) has announced more than $2.2 million in land redevelopment funding will go to eight communities statewide and Hutchinson is among them. Officials say the funding will help in creating or retaining 91 jobs, collectively increasing local tax bases by $3.1 million and leveraging more than $228.7 million in private investment.
The city of Hutchinson was awarded $150,000 for demolition of the Jorgensen Hotel. Built in 1916, the existing Jorgenson Hotel has been home to a bank, restaurant, drug store, bowling alley and apartments. After the original hotel burned down, it was rebuilt using large amounts of concrete, which has proven to be costly for past redevelopment attempts. The current plan is to demolish the site and redevelop it into a new hotel. It’s anticipated the project will create six jobs, increase the property tax base by $121,200 and leverage $8 million of private investment. Matching funds will be paid by tax increment financing and the developer.