The Water Street Inn approached Decklan Group nearly two years before their expansion began. Having experienced significant growth and demand for hotel rooms in the only waterfront hotel in Stillwater, MN, the owner wanted to add 22-rooms, renovate, make the hotel ADA accessible, rebuild the historic clock tower and add a roof-top bar and kitchen.
With any project, especially those involving buildings of historical significance, there are surprises. To complete the $6.2MM project, Decklan Group was able to secure approximately $1.4MM in tax incentives, which will increase the property's valuation by over 226%, retain 28 full-time employees, 77 part-time employees, and create an additional seven jobs in downtown Stillwater.
“I have found working with Decklan Group to be one of the best moves I could have made to ensure we would receive the funding necessary to move our project forward (TIF). Annie’s in-depth knowledge of tax increment financing is outstanding. However, the biggest value I found in Decklan Group’s services was their ability to explain the inner workings of TIF to city staff and council members to make sure we achieved our goal.”
Chuck Dougherty, Owner, Water Street Inn