NCIDA Backs $6.6 Million Hotel Project

August 9, 2012 Updated Aug 9, 2012 at 7:49 AM EDT

By WKBW News
By Business First by James Fink

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August 9, 2012 Updated Aug 9, 2012 at 7:49 AM EDT

As expected, the Niagara County Industrial Development Agency's directors approved an incentive package that will help a Niagara Falls businessman develop a 100-room hotel.

NCDA directors signed off Wednesday on the incentive package sought by hotelier Ali Rizek, part of the financing package he needs for his planned $6.6 million project. Rizek is planning to develop a 100-room Comfort Inn and Suites on Niagara Falls Boulevard that will neighbor an Econolodge motel he already operates. The development includes a New York-styled restaurant.

Rizek said he hopes to employ 60 people on a full- and part-time basis at the hotel and restaurant. The annual payroll for the dual operations is expected to top $2.1 million.

Rizek is negotiating with national chains for the restaurant.

Construction is expected to start later this year.

"With the assistance of our agency, entrepreneurs are enhancing the lodging market in Niagara Falls by building modern facilities and hotel rooms and related amenities, including restaurants," said Henry Sloma, Niagara County Industrial Development Agency executive director.

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