The Stillwater Economic Development Authority approved $1 million in tax increment financing Monday for a project that will transform the former Stillwater Public Library building into a boutique hotel with a bar and event space.

SEDA trustees voted 5-0 to support the Bookend Hotel, a $5 million redevelopment of the historic building at 206 W. 6th Avenue. The project, being developed by Republic Properties LLC, marks one of the most significant uses of the downtown Tax Increment Financing District since its creation.

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