FRESNO, Calif. (KFSN) -- A local company is making a deal to buy the "L"-shaped lot at the corner of M Street and Inyo.
It is next to the Convention Center Exhibit Hall.
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The city planned a hotel there a decade ago but the deal fell through. Mayor Lee Brand says the new plan will be a big boost.
"For the city, you are taking a lot that is zero money in tax revenue, you built a 200 room hotel there's a ten, 15, 20-million dollars in property tax, sales tax, room tax, it's a definite benefit to the city," Brand said.
The city originally paid more than three million dollars for the lot. It is selling it for $650,000 and is expected to be a Hilton or Marriot Hotel.
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Under the deal, the sale will not be finalized until the builder submits plans and obtains building permits.
The builder has another hotel in North Fresno.