Hotel LLC (Holiday Inn Express)

• Project Name: Hotel Corp. LLC, (Holiday Inn Express)
• Project Location: 2 John E Walsh Boulevard, Peekskill, NY 10566
• Project Type: Sale of Agency owned property to Hotel LLC for the construction of a Holiday Inn Express
• Financial Assistance: Lease transaction, PILOT agreement, sales tax exemption, and NYS mortgage recording tax exemption
• Total Project Cost: $8,310,000
• Supplemental Project Information (PDF)
• Applicant: Hotel LLC, 2 John E Walsh Boulevard, Peekskill, New York 10566

Summary

In 2012 the Agency closed the Hotel LLC project at 2 John E Walsh Boulevard. The Project consists of: (i) the acquisition or retention of title to or a leasehold interest in an approximately 1.25 acre vacant parcel of real property located on John E Walsh Boulevard in the City of Peekskill, New York (such 1.25 acre parcel being further identified as TMID Number 32.19-1-4.2 and hereinafter referred to as the "Land"); (ii) the acquisition, construction and equipping by the Company as agent of the Agency of a 76 room hotel facility (the "Improvements"), (iii) the acquisition and installation in and around the Improvements of certain items of machinery, equipment and other tangible personal property, related furniture, fixtures and equipment (the "Equipment" and, together with the Land and the Improvements, the "Facility"); (iv) the planning, design, construction, acquisition and installation in and around the Land and the Facility of certain infrastructure improvements, including, but not limited to water supply, sewerage, gas supply, electric supply and transportation improvements (collectively, the "Infrastructure Improvements"); and (v) the sale or lease (with an obligation to purchase) of the Facility to the Company. The project is complete.