Temporary owner

By The Gazette Editorial Board

Cedar Rapids City Council leaders made the right move this week when they agreed to make a bid for the troubled Crowne Plaza Five Seasons Hotel.

With the hotel's future in question, there was just too much at stake for the city not to have stepped in. Temporarily.

But if the city does purchase the property, it must waste no time in renovating the building and selling it to a reputable private owner. Hotel ownership should not become a permanent part of city government.

We don't like the idea of the city getting into the hotel business, but council members took a necessary step to ensure a vibrant downtown - so long as it's a temporary one.

The Crowne Plaza is downtown's only hotel and an important component of the Event Center complex on Third Street NE. The council voted 6-1 Tuesday to make a bid to buy the 275-room, 16-story hotel, which has been in a creditor's hands after the business went bankrupt and was sold in December.

It's not yet clear how much the hotel would cost - consultants say it is worth just more than $2 million. In addition, the city will have to invest in flood-related renovations - another unknown cost.

But the cost of inaction could be much greater.

The city already has secured $50 million in federal and state grant funding for the $67 million Event Center project, which also includes upgrades to the U.S. Cellular Center arena. An adjacent, attractive hotel would enhance those venues and benefit from the visitors they draw.

A boarded-up building would be an embarrassment. Lack of accessible lodging could keep some visitors away. The city is right to do what it can to make sure the first scenario is what comes to pass.

And by working on these projects simultaneously, the city can help keep costs low. They can make design changes to ensure the hotel, event center and arena compliment each other. It's an investment that could help the city reap significant cultural and financial rewards.

Hotel ownership isn't in the city's best interest over the long term. But making sure the hotel enhances the Event Center district's value certainly is.