News

Hotel Ithaca Project On Its Way

Updated Wednesday, March 20, 2013

Written By: Joe Melillo

The Tompkins County Industrial Development Agency , also known as the IDA approved tax abatement for whats being dubbed "Hotel Ithaca."

March 20, 2013
Ithaca (WENY) - The Tompkins County Industrial Development Agency , also known as the IDA approved tax abatement for whats being dubbed "Hotel Ithaca." The plan is to put it on one end of the Commons, allowing easy access to all the local businesses in downtown. The abatement passes which is good for the project. But what's good for the community is all the jobs and revenue it will bring.
     Speaker After Speaker, the majority of people who came out tonight were in support of the new Hotel Ithaca Project. Local Business owners agree that more people that can stay Downtown, the better.
     “I support any business that brings us new business,” says one local business owner. “Because I know we will pass it on. Keeps our business strong and keeps us investing in this community just like many other local businesses in the area I support the Marriott hotel project.”
     The Tompkins county IDA approved a tax abatement for the project which means the future hotel will not have to pay property taxes for 10 years. Community members are ok with that aspect, as abatement is an incentive to get business into the city. Leaders tonight also wanted to make sure the developers use local labor.
     “Implore to you that you do your best to use an open bidding process and you use local labor as much as possible,” says Tomkins County Legislator Nate Shinagawa.
     Marchus Williamee from Plumbers and Steamfitters Union says that bidding process will get underway in about a month for local labor unions to try win the contract.
     “I feel like the community needs this project there are a lot of projects being built in town that are not using local labor and I hope we get our guys on this project.”
     The Subcommittee released a rough estimate of financial benefits to the city. The expected Total growth is upwards of $13 Million a year. That's not including 75 permanent full time jobs.