Corvallis, OR -

The Corvallis City Council voted Monday night against investing in a downtown hotel and parking garage.

The Corvallis Gazette-Times reports the vote effectively scuttles the $23 million project. Developers sought $4 million in public funding that would have given the city a majority interest in the garage.

The proposal was endorsed by downtown businesses who said it would boost the local economy.

Council members said they would be happy to see a hotel and parking garage built on the riverfront, but they split over whether the city should invest public money in the deal.