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Comfort Suites hotel project nears approval in Liberty



Published: Wed, January 15, 2014 @ 12:07 a.m.

Officials to vote on tax abatement for Comfort Suites

By Jeanne Starmack

starmack@vindy.com

LIBERTY

Investors are nearing approval for a $6.5 million hotel development on Belmont Avenue.

A 90-unit Comfort Suites would be built across the street from the Station Square restaurant, said township Administrator Pat Ungaro.

There is empty land there where a Ramada Inn once stood. The property owner demolished that hotel, he said.

Perni, Perni Equities LLC of Hubbard owns the property, he said. Investors include the Holiday Inn in Boardman, he said.

Financing and zoning requirements are already in place, Ungaro said. He said that land in front of the hotel site has been re-platted, but he would not say what businesses might locate there.

The Trumbull County commissioners were expected to vote this morning on a 49 percent, 10-year tax abatement for the development.

“It’s a done deal,” Ungaro said.

He also said if the commissioners approve the tax abatement, it also will have to be approved by the Ohio Department of Development.

The state is involved because the area falls under the Community Reinvestment Area program, or CRA, he explained.

According to the Ohio State University Extension Service website, the CRA program permits municipalities, townships or counties to designate areas where investment has been lagging to encourage revitalization of the current housing stock and the development of new structures. Residential, commercial and industrial projects are all eligible.

Ungaro said he expects that once the tax abatement is approved, developers will break ground quickly, likely in the spring.

“I believe they will approve it,” he said. Tax abatements are an incentive to attract development, he added.

“It’s great news. It’s probably going to happen,” said Trustee Jason Rubin. “It’s a good project.”


Comments

1keugene(21 comments)posted 9 months, 1 week ago

Ungaro is still at it putting deals together , but several things need considered...The hotel industry is controlled by the Indians and Pakistanis who get special "sweetheart" deals through our government that allows them to buy ano/or bulid hotels for almost nothing. Second, Ungaro needs to get the right people together to have the state put in an on/off ramp on the new 711 connector to the one that is there now.....that never made sense and the businesses at that end of Belmont Ave. suffer

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