Tag: inn on the river

    New Year’s Eve opening seen for renovated hotel

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    From the Buffalo News:

    Owners of the newly named Four Points Hotel, formerly the Inn on the River, are finalizing details of a grant from the NFC Development Corp. and are on schedule for opening on New Year’s Eve, according to Mayor Paul A. Dyster.

    Inn on the River wins city’s support

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    From the Buffalo News:

    The city will chip in $650,000 of its casino revenue toward a project to renovate a high-rise hotel on the Niagara River.

    Directors of the city’s NFC Development Corp. on Monday unanimously approved a $650,000 grant for a project by hotelier Faisal Merani to reopen the former Inn on the River at 7001 Buffalo Ave. as a hotel with a triple diamond rating.

    Hotel project gets unusual tax break

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    From the Buffalo News:

    The Niagara County Industrial Development Agency granted an unusual tax break Thursday that will allow a Canadian company to avoid property taxes for five years on a Niagara Falls hotel to help it buy and rebuild the closed facility.

    The developer, Merani Hospitality, must meet certain levels of investment to receive the full tax break for five years on the former Fallside Hotel at 401 Buffalo Ave.

    The tax break is also tied to another project by the same hotelier to buy and reopen the former Inn on the River at 7001 Buffalo Ave.

    Canadian group eyes two Falls hotels

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    From the Buffalo News:

    The Niagara County Industrial Development Agency is considering tax breaks to help a Canadian company reopen two Niagara Falls hotels.

    The IDA board accepted applications Wednesday from the Merani Group of Companies, based in Niagara Falls, Ont., for payment-in-lieu of taxes arrangements, or PILOTs, to help it buy the former Inn on the River and the former Fallside Inn.

    In both cases, the Merani Group asked for 15-year PILOTs, but in the case of the Fallside, which may be demolished in whole or in part, the IDA voted to offer as many as five years fully tax-free instead of making the company pay a percentage of the full taxable value.

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