News - October 5, 2016

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CRIZ authority approves financing Marriott expansion costs

10.5.16

The planned $30-million expansion of the Lancaster Marriott at Penn Square has received approval to finance some costs using funding from a state economic development program. The City Revitalization & Improvement Zone Authority approved Penn Square Partners’ request to use CRIZ revenue to pay debt service on $5.6 million on Tuesday.
The money will be used for site acquisition; furniture, fixtures and equipment expenses; design engineering and land planning and fees.

http://lancasteronline.com/news/local/criz-authority-approves-financing-marriott-expansion-costs/article_27a06e3a-5381-11e6-82c3-9b0f534621fe.html