WACO (July 2, 2013) -- The Waco City Council voted Tuesday to approve construction of a new hotel.
The Fairway Suites hotel will be built on approximately two acres at Cottonwood Creek Golf Course.
Under the agreement, the city will receive a one-time payment of $250,000 when the hotel opens, and then one percent of gross sales - or $25,000, whichever is greater.
A portion of that money will be used to renovate the club house at the golf course.
The City Manager will now begin preparing contracts to finalize the agreement.