Niagara Gazette

Local News

February 13, 2013

Hotelier eyes Marriott for former Moore Business Forms site

(Continued)

Niagara Gazette — "My father's dream has been to put a Marriott hotel in the city of Niagara Falls," Nirel Patel said. 

Indian Ocean, LLC has requested an enhanced commercial payment-in-lieu-of-taxes agreement through the NCIDA. The deal, if approved by the board, would provide the hotel's owners with property tax exemptions for the existing assessment and improvements based on standard commercial PILOT at an estimated value of $760,000. Sales tax exemptions on construction and building furnishings would be offered as well at an estimated savings to the owner of $340,000. 

NCIDA officials estimate that the owners would pay $164,000 in real property taxes by the end of the proposed PILOT. With the value of the jobs to be created, annual value of "indirect and induced jobs created," sales tax to be generated and an estimated $2 million in "economic activity" at the site, the return to the community will be roughly $3.37 million, according to the agency. 

The Patel family also has requested a two-year tax-free period for the property which would be available under the NCIDA's Opportunity Zone Program. Businesses located in Opportunity Zones within the county's three cities are eligible for additional tax breaks and other incentives. If the request is granted, the family would be allowed to open and operate the hotel during the two-year period without paying any property taxes or reduced PILOT payments. 

NCIDA attorney Mark Gabriele said the package, if approved by the board, would be put in place in advance of an enhanced five-year PILOT, which would kick in at the end of the two-year Opportunity Zone arrangement. 

Nirel Patel suggested, due to the high standards involved in operating a hotel within the Marriot chain, the initial costs will be substantial and profits minimal during the hotel's start-up phase. He noted that the property will be owned by his family, but managed by Marriott as is the company's standard. 

Text Only | Photo Reprints
Local News
Featured Ads
Seasonal Content
House Ads
AP Video
Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Palestinians and Israeli Soldiers Clash Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive
Opinion
House Ads
Night & Day
Twitter News
Follow us on twitter
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Front page
Poll

Do you think cigarette sales to non-Native American customers should be taxed on reservations?

Yes. Items should be taxed like they are everywhere else.
No, the indian reservations are sovereign land and they are selling them on their land.
Not up to me. Native Americans decide the rules on their land.
Don't care. Smoking isn't good for you.
     View Results