The proposed expansion of the Holiday Inn in Downtown Ithaca is getting closer to reality.
The owners of the Holiday Inn want to add a new tower to the north of the existing building that will serve as a conference center, along with a southern tower that will add more rooms to the hotel.
The developers are seeking a tax break through the City of Ithaca’s Community Investment Tax Abatement Program.
The future Marriott Hotel on the east end of the Commons was awarded a 10-year tax abatement under that program.
David Hart, President and CEO of Hart Hotels, says the hotel will be closed from November 2013 through April 2014.
“There’s a sigificant amount of economic harm we’re doing while we’re closed,” Hart said.
Hart said the company is footing the cost for capital and operating expenses, and so they’re asking the community for a tax break in return.
“We’re doing that and in effect taking the community off the hook for those obligations, and so we’re looking for a little bit of assistance from the community to help us get that facility up and running,” he said.
Hart said they plan to start construction in November.
A public information session on the proposed reconstruction and the tax abatement program takes place Monday at city hall at 5:30, 108 E. Green St.