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 Ithacaâ€™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 doingÂ while we’re closed,” Hart said.
Hart said the company is footing the cost for capital and operating expenses, and so theyâ€™re asking the community for a tax break in return.
“We’re doing that andÂ 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,”Â 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.