The owners of the vacant Monterey Hotel in downtown Janesville appear to have overcome the parking obstacle that was preventing them from redeveloping the historic property.
Janesville Economic Development Director Gale Price says the City Council will consider a tax incremental financing agreement for 51 apartments.
Project plans include 39 parking spaces prices says there are two municipal lots within a half block of the property.
Price says the tax incremental financing agreement could go before the City Council as early as November 23rd.
The Plan Commission will also need to approve a conditional use permit for the project because part of the first floor would be used for residential purposes.
