In April, the Yonkers IDA approved incentives that will include a payment in lieu of real property taxes (Pilot) agreement, mortgage tax exemptions and sales and use tax exemptions for construction costs in connection with the project.
The hotel, located adjacent to Mack-Cali Realty Corp.'s South Westchester Executive Park will be a four story, 150-room hotel with on-site parking.
Ellen Lynch, president and CEO of Yonkers IDA, says of the project, "The development of this hotel will not only meet the increasing demands of business travelers and visitors, but will also provide construction and permanent jobs. This project will contribute significantly to this city's ongoing economic renaissance."
IDA officials say the hotel project will create 90 construction jobs and 40 permanent jobs. The hotel will be a mid-scale limited service facility that offers a combination of rooms and suites to guests. Amenities will include an indoor pool, a fitness center, a business center, meeting facilities and a breakfast room, they add.
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