Authorities say officers responded to a disturbance call at the St. George Hotel on the 100 block of East Third Street just before 1 p.m. The hotel is used for housing for the homeless.
Officers went to a room on the fifth floor, and the woman opened the door armed with a knife.
An officer-involved shooting occurred, and the woman, who is in her 50s, was taken to a local hospital in serious condition.
The shooting remains under investigation.