The agreements needed to bring a hotel and parking garage to downtown Butler were essentially finalized Tuesday, according to Mayor Tom Donaldson.

Representatives from developer J.S. Capitol and the city officials signed off on a number of loans and agreements during a nearly four-hour meeting at the law office of Dillon McCandless King Coulter & Graham in Butler.

“It’s a go,” Donaldson said of the Centre City project. “We’re going to build a hotel and parking garage.”

Donaldson said all the agreements are in place, but the attorneys for all sides would review the contracts one last time.

“There may be a couple loose ends tomorrow,” Donaldson said. “But it’s done.”

J.S. Capitol, developer of the hotel, closed on three loans, including a $3.4 million construction loan with NexTier Bank and a $900,000 tax-increment financing loan.

It also finalized its partnership agreement with the city redevelopment authority, which will be a 25 percent owner in the 76-room Marriott Springhill Suites hotel to be built at the corner of Jefferson and McKean streets.

The closing allows the city to start its neighboring parking garage, which will join the hotel as part of the Centre City project. The garage will have 239 spaces.

Donaldson said PNC Bank today will sell the bonds that will fund the garage, locking the city into the debt.

“It’ll be an about $6.8 million bond issue,” he said.

The bond also will refinance the existing parking authority’s debt and pay for the West New Castle Street bridge replacement project.

City council will meet Monday night to award contracts for the garage. Thomas Construction of Grove City will be the general contractor.

The deals concluded a decade-long process for the Centre City project, which includes the already completed Rite Aid Pharmacy on Main Street.

“There were days I questioned whether we’d ever get here,” the mayor said.

There is no estimated groundbreaking date set for either project.

The closing was not open to the public but included representatives from the city, the authority, J.S. Capital and NexTier Bank.

The city had been waiting for J.S. Capitol to finalize its deals for the hotel before moving forward with its parking garage because the hotel will be the primary tenant of the garage — guaranteeing to pay for 50 spaces each night.

The deadline for everything to fall in place was Sept. 14, when the city’s bond issue was set to expire.

Donaldson said he is happy the city can move forward with the project.