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IDA considers tax exemptions for Potsdam hotel

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POTSDAM — The St. Lawrence County Industrial Development Agency accepted applications for tax exemptions from the developers of a Potsdam hotel at a meeting Wednesday.

The IDA is considering applications for a sales and use tax exemption and a mortgage recording tax exemption on behalf of Potsdam Hotel Associates, which is planning a 97-room Hampton Inn at 167-169 Market St.

Construction is expected to begin this fall. The opening of the hotel is projected for next summer.

The IDA will have a public hearing at 1 p.m. Oct. 16 in the Potsdam Civic Center on the tax exemptions.

The project is estimated to cost $6 million to $7 million.

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