This past week we cleared one more hurdle for the Hotel Project. The City
of Ashtabula approved the property tax abatement that the building owners
applied for on our behalf. This will save us a substantial amount of money in
our rent payments over the next 10 years and was crucial to getting this deal
done. We are still waiting for the City to approve the Parking Lot plans
although at this point there won't be any work on it until spring
arrives.
Meanwhile, the engineers and the architect are still working on
the detailed construction drawings of the building renovations, Elevator
renovations, HVAC systems, Electrical systems, etc.
I am still guessing we are about 4-5 weeks away from beginning to see the
demolition crews get started.
I will keep you posted. |