URBANA, IL (Chambana Today) – Another deadline for reopening the former Urbana-Lincoln and Landmark Hotel as Hotel Royer has passed, bringing with it a $150,000 reduction in incentive funding. The latest deadline, set by Urbana city officials for last Tuesday, required the hotel to achieve occupancy to receive funding, but it still hasn’t opened and hasn’t obtained its certificate of occupancy.
The Urbana City Council had previously extended the deadline multiple times, most recently to Dec. 31, 2024, with an amendment that introduces penalties. For every quarter past the deadline, the developers will lose $150,000 in reimbursement, reducing the total from $5.5 million to $5.35 million as of January 1. If the hotel opens after April 1, that amount will drop further.
The hotel’s website currently lists Feb. 28 as the first available booking date, though Hilton typically pushes this date later to avoid complications if delays occur.