Friday, April 14, 2017

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Another planned hotel gets financial incentives from Orange County IDA

TOWN OF WALLKILL – A hotel developer plans to build a 125-room hotel on six acres on Tower Drive in the Town of Wallkill.  On Thursday, the Orange County Industrial Development Agency approved financial incentives for Orange Tower Drive, LLC to build a Residence Inn by Marriott Hotel.

Incentives for the $19 million project include sales tax exemption on construction materials and an exemption from the mortgage filing fee.

IDA Chief Operating Officer Laurie Villasuso said this hotel and others recently constructed and still others on the drawing boards are an indication of the popularity of the county.

“There has been a lot of demand and Orange County Tourism is on the rise and with all of these exciting projects on the docket - the proposed Legoland project and other items in the pipeline - and with very high occupancy rates, it is excellent for the county because the hotel tax goes right into the county budget and they are able to spend that on marketing for tourism and it is a win-win all the way around,” Villasuso said.

This new hotel will be constructed between an existing Super 8 Motel and the recently opened Tractor Supply Company store.

 


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