Negotiations between the city of Quincy and an Iowa firm that had shown interest in rebuilding on the site of the Newcomb Hotel have ended.

Mayor Kyle Moore said Thursday morning that talks between the city and Hobart Historic Restoration ended with the two sides agreeing that a deal cannot be reached.

Hobart had proposed building a five-story, $4-million dollar structure with commercial and apartment space.

Moore said problems arose when Hobart asked the city to pay for further site testing and to guarantee occupancy for a portion of the building.