Hotel construction begins near Oxford Casino
Construction of a 93-room Hampton Inn has begun on the site across from the Oxford Casino on Route 26 in Oxford.
The Lewiston Sun Journal reported that GIRI Group LLC President Ashish Sangani expects the hotel would be completed in the next 11 to 12 months.
In May the town of Oxford approved a tax break for the developers of the $15.4 million Hampton Inn — a 15-year credit enhancement agreement that will allow Quincy, Mass.-based GIRI Group LLC to be reimbursed for some of the taxes it pays on the property, though it can only be used for various infrastructure needs like water and sewer projects.
Under the deal, the town will take an annual 20% of the property's increased taxes and put it into a special account for the developer. The total allocation will be $367,500.
The Sun Journal reported that the hotel is expected to create 23 part- and full-time jobs with salaries ranging from $25,000 to $80,000 and an estimated 50 to 90 temporary jobs during construction.
Read more
Most Recent
Most Recent
Comments