Rebound Hospitality wants $2 million in tax help

Rebound Hospitality is asking the City of Decorah for a $2 million package of financial assistance to help make the $11.4 million hotel complex a reality.

In an application sent to city officials last week, Rebound states, "The redevelopment of the Bluffs Inn/Oaks property will require significant upfront costs and site preparation costs typically not incurred."  The application cites the costs of removing the "hazardous" existing buildings on the property, the possible clean-up of asbestos and other environmental conditions, the improvements needed to existing utilities to provide adequate services and changing the topography of the site—in part with retaining walls—to provide adequate access to the new buildings.

Rebound Hospitality is asking for $500,000 to $700,000 in upfront contributions, with the remaining $1.3--$1.5 million consisting of tax abatements over a ten year period.

In additional, Rebound wants help from the city in obtaining another $500,000 in financial assistance from county, state or federal sources.