The Genesee County Economic Development Center (GCEDC) Board of Directors approved a proposed $10 million project by 8250 Park Rd, LLC’ at its March 26 meeting.

The company will renovate the current 125,000 square-foot hotel at 8250 Park Road in the Town of Batavia. Upon competition, it would operate as a 99-unit Holiday Inn and a 68-unit Candlewood Suites in addition to a renovated water park.

The improvements are projected to increase the property’s assessed value from $2.5 million to $9.185 million. The combined operations anticipate creating 15 new full-time equivalent (FTE) positions and retaining an additional 20 FTEs.

The resulting project is estimated to produce $9.994 million in future benefits to the local community, including payroll to workers during renovations and 10 years of operations, and an increase in property tax revenue and sales tax revenue.

8250 Park Rd LLC requested an abatement of the 8% state and local sales tax for construction and equipment estimated at $379,200, abatement of the 1% state and local mortgage recording tax estimated at $50,000. The company also requested a Payment-in-Lieu-of-Taxes (PILOT) abating $884,472 of future property taxes toward the incremental increase in assessed value.

The project is estimated to generate payroll and tax revenues that would result in an estimated $10 local benefit for every $1 of requested incentives. In addition, once ramped up, the project is projected to generate over $123,704 annually in bed tax revenue to the county.