Monday, August 11, 2008

Hotel Utica Countdown: H - 2 Days

Back in May it seemed as if the long-running Hotel Utica disaster would never come to a close. That's when Utica's visionary mayor Dave Roefaro pledged to resolve the mess in 90 days:

Mayor David Roefaro said in 90 days the city should have a resolution to Hotel Utica’s continuing pattern of falling behind on its tax and federal loan payments.

Roefaro and Urban and Economic Development Commissioner Robert Sullivan Thursday met with hotel co-owners Joseph R. Carucci and Charles N. Gaetano. The mayor said a few options were discussed, but he wouldn’t elaborate.

The Observer-Dispatch on Sunday reported the hotel owes more than $215,000 on its city, Oneida County and Utica City School District taxes, including $18,500 in penalties. The hotel has also missed its last two city-guaranteed payments on a federal loan that
helped the establishment reopen seven years ago.

Mr. Roefaro's 90-day deadline comes to a close on August 13th, just two days from now. With millions of taxpayer dollars on the line his plan is sure to have wide-ranging consequences for the entire city. Will he go ahead with foreclosure? Or will he opt to continue spending close to a quarter of a million dollars of economic development funds a year supporting the Hotel?

In just two days we'll find out.