Johnson Controls Looking for Loan to Purchase, Remodel Hotel
October 25, 2019 3:41PM EDT
CANTON (News Talk 1480 WHBC) – After announcing its planned purchase the McKinley Grand Hotel last week, Johnson Controls Hall of Fame village is now looking for a loan from the city of Canton.
The cost: $3.5 million. It would go toward the $21 million in renovations for the downtown property. The loan money could come from some of the extra revenue the city receives from its increased income tax.
If the loan is given, the Hall of Fame Village would have 10 years to repay the city. A vote for the loan is scheduled for November 18.