Sanborn, N.Y. (WKBW release) -- The Niagara County Industrial Development Agency Board of Directors on Wednesday accepted an application of assistance from Falls Hotel LLC, which plans to construct a new $6.2 million Hampton Inn in the City of Niagara Falls.
“This marks the seventh hotel for which the NCIDA has approved an application for assistance in the past two years and it continues the effort to enhance the lodging stock in the region especially on Niagara Falls Boulevard,” said Henry M. Sloma, chairman, Niagara County Industrial Development Agency. “I believe the proposed new hotels are a direct correlation of the growth of the Niagara Falls International Airport which is bringing new visitors to our region, and I am confident we will continue to see other development proposals in response to the increased success of the airport.”
Falls Hotel LLC is planning to construct a new 45,000 square foot, four-story Hampton Inn featuring 72 guest rooms at 6501½ Niagara Falls Boulevard on a vacant lot by the northbound exit ramp from I-190. The hotel will target leisure travelers from both the U.S. and Canada and the location was strategically selected due to its close proximity to the Niagara Falls International Airport to service the increase of visitors to the area in and around the airport.
The new hotel is projected to cost approximately $6.2 million and will create 18 new full-time jobs and 30 construction jobs. In its application, Falls Hotel LLC has requested for assistance for a 10-year commercial PILOT, sale tax abatements and mortgage recording tax abatements. Currently the vacant parcel generates $5,700 of real property tax annually; once the requested PILOT expires the estimated annual real property tax will increase to $205,000.
The NCIDA board of directors also approved an application of assistance submitted at the May 2011 board meeting by Sunlight Solutions, a hydroponics manufacturing company that produces turn-key residential greenhouses. The company’s greenhouses are used to produce pesticide free foods for cancer patients and Kosher diets, to grow organic fruits and vegetables as well as by laboratories for botanical experiments.
The company plans to build a new 7,200 square foot facility on nine acres at 2557 Niagara Falls Blvd. in the Town of Wheatfield. The facility will be used for light manufacturing, assembly, research and development, shipping, receiving and offices. The total cost of the project is $650,000 and it would retain the 14 full time employees and six seasonal workers, while creating four new full time jobs.
Sunlight Solutions will be receiving a 15 year Industrial PILOT, sales tax exemptions and mortgage recording tax exemptions. Currently the vacant parcel generates $955 of real property tax annually; once the approved PILOT expires the estimated annual real property tax will increase to $20,500.