The Amerock building on sunday, May 2015, in downtown Rockford.
Financing delays will force city officials to negotiate a new agreement for the transformation of a 13-story factory into a $67 million Rockford Embassy Suites and Conference Center overlooking the Rock River.
Wisconsin-based Gorman & Company CEO Gary Gorman and Mayor Larry Morrissey say they are confident they can redevelop the decaying former Amerock tower into a 160-room hotel and 40,000-square-foot conference center. Although it was certified in 2011 as a historic landmark by the National Register of Historic Places and was supposed to be done by now under terms of a 2014 agreement, Gorman continues to navigate a web of complex public and private financing mechanisms to pay for it.
"It is going to happen," Gorman said during a recent phone interview. "We never seem to do easy deals. It's a hard deal with lots of different plates spinning right now, but this is a true public-private partnership."
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