Nevada County supes approve stimulus loan for Hotel Avery development | SierraSun.com

Nevada County supes approve stimulus loan for Hotel Avery development

Greyson HowardSierra Sun

Courtesy IllustrationThe proposed Hotel Avery development is planned for the corner of Bridge and South River streets.

TRUCKEE, Calif. andamp;#8212; The Hotel Avery development could be ready to break ground this year, thanks to Tuesday’s $5 million blessing from the Nevada County Board of Supervisors.The board unanimously approved owners JMA Ventures to go after $5 million in low-interest federal stimulus loans from the American Recovery and Reinvestment Act to help start work on the 45-room hotel and restaurant combo planned for the corner of Bridge and South River streets.andamp;#8220;It has to be a project that provides economic growth, new construction or new jobs and can be used for public or private projects,andamp;#8221; said Michael Chin with California Communities, the entity issuing the bond.Supervisor Ted Owens said the hotel project will do just that.David Tirman of JMA Ventures said the hotel will create more than 100 construction jobs and up to 30 hotel and restaurant jobs.Truckee Vice Mayor Richard Anderson said it will not only create new jobs, but stimulate business in the downtown area and help connect the Hilltop area to downtown.andamp;#8220;This is an important project for the community,andamp;#8221; Anderson said.Tim Kretzschmar of Qandamp;D Construction agreed.andamp;#8220;With the economic times how they are, construction has been severely hit hard,andamp;#8221; Kretzschmar said.Some supervisors asked if this would use up all the stimulus funding allotted to Nevada County, preventing it from being used by other projects. Chin said andamp;#8220;yes,andamp;#8221; but said other funding should become available.Owens said if the funding isn’t used soon, it will go away, and Hotel Avery is ready to go.Construction on utilities could begin this fall, Tirman said, and on the actual building start the following spring.