Duluth, MN (NNCNOW.com) -- The Seaway Hotel in Duluth is now under new management.
The Housing and Redevelopment Authority has entered into a purchasing agreement with the city to own and operate the building.
The city asked HRA to take over the building from the current owner, Rick Caya, to help redevelop the property.
HRA executive director, Rick Ball says, there are a number of improvements that need to be made with the building.
HRA is working to take over full ownership and hope that will happen by the end of February.
"There are a number of things we have to do, we have to line up funding for the acquisition as well as for the building improvements and also the ongoing operational expenses that we are concerned about," said Ball.
HRA is looking to the Economic Development Authority for $230,000 for the acquisition and $600,000 to 800,000 from the Minnesota Housing Finance Agency to help pay for building improvements and operations.
Posted to the web by Kati Anderson.