New owners of the AmericInn in Monmouth, HBSA Hospitality LLC, has entered a Redevelopment Agreement with the City of Monmouth to complete renovations on the property, explains City Administrator Lew Steinbrecher:
“They purchased that property back in February of 2025 and they are looking at and planning to invest over $500,000 in renovations to the exterior and interior of the building, as well as installing a new ground sign. The redevelopment agreement really covers the first phase, which is $350,000 in those renovation improvements. Under the agreement, the City would provide a $175,000 incentive to entice that renovation of the property,” states Steinbrecher.
“Once the project is complete, the final invoices and proof of payment are submitted and the work is inspected by the building official and is approved, the City would issue a $50,000 check and then would continue with monthly payments in the amount of $3,473 for 36 consecutive months,” Steinbrecher adds.
Steinbrecher informs the Redevelopment Agreement with HBSA Hospitality LLC is all contingent on the owners maintaining the Wyndham brand at the AmericInn.
