The Marshall County tourism commission voted to provide $7,500 to release a hotel feasibility pro forma tied to a proposed 65-room Cobblestone hotel in Culver.

Kevin (presenter) told the commission the development would be a Main Street–oriented, 65-unit hotel with room types including a small number of suite-style "home stay" rooms and a small conference area. He said the developer, Chris Hart of Cobblestone, and local partners are discussing a $10 million–$11 million project and that an initial pro forma—paid for in part by the Culver redevelopment commission—shows strong monthly projections driven by the academy and summer visitation. "We're moving to the next phases. We're looking at a 10 to $11,000,000 development down there," Kevin said.

Commission members probed incentive and financing details. Kevin said the property sits in a continuous tax-increment financing (TIF) district created during prior development and that the redevelopment commission fronted the first $7,500 for the pro forma. He said the developers seek a 30% equity commitment (about $3 million) from investors and that the tourism board’s funds were not part of any proposal to offset innkeepers taxes: "we're not including the innkeeper's tax in the incentive package," he said.

After questions about timeline, investor interest and how the pro forma would be shared, the commission moved and seconded a contribution to match the initial payment so the consultant (Jessica Juncker) can release the full pro forma to potential investors. The board voted in favor by voice; commissioners asked that the presenter deliver the pro forma to the board after payment and that board members be given time to review and comment.

The presenter said he will confirm the exact payee for the check (the consultant identified in the presentation) and provide the pro forma to commissioners once the invoice has been paid. He asked commissioners for feedback on the document to identify local concerns and suggested the project could be built in 2026 if investor interest materializes.

Why it matters: Board members said a Culver hotel could capture tournament and academy-related demand, increasing overnight stays in Marshall County and generating long-term lodging tax revenues. The funding approved is intended only to release analytic materials to investors and does not guarantee county funding for the hotel.