O-379-24 Approving a Section 108 Loan Guarantee Application for the amount not to exceed $2,000,000 from 935 Toledo, LLC, and 935 Lakshmi, LLC for systems, furniture, equipment and training costs for a new Delta Hotel by Marriott , located on the University of Toledo Medical Campus at 3100 Glendale Avenue, Toledo, Ohio; authorizing the submission of the Application to U.S. Department of Housing and Urban Development (HUD) for Eligibility Determination and final approval of a HUD Section 108 loan guarantee; and declaring an emergency.
I oppose the Section 108 Loan Guarantee Application. The program is meant to benefit low-to-moderate-income communities, and allocating $2,000,000 to the Delta Hotel by Marriott does not align with that purpose. Toledo has urgent needs like affordable housing and healthcare. Public funds should prioritize essential community projects, not reduce financial risks for large private companies. Declaring this an emergency lacks justification. I urge you to reject this application.
I oppose the Section 108 Loan Guarantee Application. The program is meant to benefit low-to-moderate-income communities, and allocating $2,000,000 to the Delta Hotel by Marriott does not align with that purpose. Toledo has urgent needs like affordable housing and healthcare. Public funds should prioritize essential community projects, not reduce financial risks for large private companies. Declaring this an emergency lacks justification. I urge you to reject this application.