PEORIA, Ill -- It appears that a deal has been struck between the developers of the Pere Marquette hotel project and the Catholic Diocese.
The church owns a significant piece of property that the hotel sits on, and a 99 year lease to the hotel owners was in play.
How big a part of the property does the church own?
We have learned that it's a much larger parcel than many thought.
The area that the church owns Is 114 by 66 feet according to the 1925 lease--the entire southeast corner of the building.
Peoria Mayor Jim Ardis said he's still confident that, despite some problems, this deal will still go through.
"A couple of things, probably, the ball may have gotten dropped on, but they picked them back up. And like I said, we're speaking with Mr. Matthews and his team on more than a daily basis, several times a day, they continue to get us the last bits of information that we're waiting on, and this thing's gonna get done this month," said Mayor Ardis.
The current deadline for financing is March 30.