MEMPHIS, TN (abc24.com) - The historic Chisca Hotel is another step closer to being renovated.
A Memphis City Council committee approved $2 million for the project on Tuesday. The money is already set aside in the capital improvement program.
Renovations to the crumbling downtown hotel are estimated to total about $20 million. But even with approval, there's no guarantee the renovations will be done.
"I'm not making any promises the Chisca will be developed," said Paul Morris with the Downtown Memphis Commission. "As you know in the past we've tried to make deals work. In the past we've had groundbreakings and it hasn't been developed."
Council members say the city could get the $2 million investment back if the hotel is sold for profit.
The plan goes to the full council for a vote in two weeks.