Proposals for the selling of City Parking Lot 10 to be discussed

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GAINESVILLE, Fla. (WCJB) -- The Gainesville City Commission will be discussing proposals to sell City Parking Lot 10 to private developers to build a hotel Thursday afternoon.

The commission is in negotiations with EDA Incorporated and Concept Construction Incorporated.

EDA is offering $2,400,000 for the lot, while Concept Construction is offering $750,000.

The development would create a 120 to 140 room hotel with two restaurants and meeting areas.

The cost of the project is estimated to be $26,000,000.

The meeting will take place at 1:30pm at the City Hall Auditorium.