Council Unanimously Agrees To Loan $3.5 Million for McKinley Grand
November 19, 2019 9:10AM EST
CANTON, Ohio (News Talk 1480 WHBC) – Canton City Council has unanimously agreed to provide a $3.5 million loan to Johnson Controls Hall of Fame Village, the new owners of the McKinley Grand Hotel in downtown Canton.
The .5% interest loan will not involve monies from the city’s income tax.
Instead, the 7- to 10-year bond will be funded by fees from the city’s coffers.
The company is buying and remodeling the Market Avenue S hotel, hoping to have it open for Hall of Fame Enshrinement Festival activities next summer.
