City council has approved a nearly 3 million dollar loan for the downtown DoubleTree Hotel project.

Mayor John McNally says the loan could easily be paid back through grants, and incentive programs.

The hotel will bring more than 100 construction jobs to the city.

It's a project Mayor McNally says is desperately needed in the downtown area.

The hotel will occupy the Stambaugh Building at 44 Federal Plaza East will have 133 beds, as well as a restaurant and retail space on the first floor.

The hotel is slated for completion late next year.