FALLS CITY, Neb. - A ribbon-cutting ceremony will be held at 5:30 p.m. today to mark the opening of the newly remodeled fourth floor and renaming of the former Hotel Stephenson.

Nebraska Gov. Dave Heineman will attend the event in the building's lobby, located at 18th and Stone streets in Falls City. The public is invited.

Building owner Mitch Glaeser will be among the program's other speakers. Mr. Glaeser is a Gainesville, Fla., real estate developer who purchased the property in October 2007. He owns several other Falls City properties and is active in the project to construct a new Missouri River bridge at Rulo.

The remodeled fourth floor has 16 hotel rooms and two suites. Many old walls were removed and new ones built to modernize the 1920s-era building.

The structure includes a floral shop, barber shop and insurance agency office. A new hotel lobby is under construction and a restaurant is also planned.

Refreshments will be served and guided tours will be conducted until 7 p.m.