A hotel at the Bradenton Area Convention Center is expected to be open by November 2019.
According to the Ground Lease and Development Agreement, which goes before the Manatee County Commission for approval Tuesday, construction on the hotel will begin by Sept. 18, 2017, and finish by Nov. 1, 2019.
“The conceptual plan in this development agreement calls for a proposed six story, 250-room Sheraton hotel and will include ballroom space, meeting room space and a full service restaurant,” according to agenda materials.
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The lease between the county and Improvement Network Development Partners will be for 40 years with two options to renew for 10 years in exchange for nominal rent, according to agenda materials.
“The Developer will be responsible for the design, construction and equipping of the hotel at its sole risk and expense and at no cost or expense to the county,” according to materials.
This lease agreement, which will be considered by the commission at 9:30 a.m. Tuesday, comes after the commission approved last September a development agreement for the hotel with Improvement Network Development Partners.
“This is a two-party agreement between the County and INDP, however, the City of Palmetto and the Palmetto CRA will be significant partners in the success of this development,” according to agenda materials.