The owner of the proposed new hotel at the Ottawa International Airport says it's prepared to accept a 10-year grant from Ottawa taxpayers to support the hotel instead of 25 years, with the airport changing its lease proposal to help build the hotel.
In a letter to Mayor Mark Sutcliffe and councillors obtained by CTV News, Ottawa International Airport president and CEO Mark Laroche and Germain Hotels vice-president of operations Hugo Germain say the airport authority will "make some adjustments to Germain's lease payment obligation" to help the project proceed.
Under the Ottawa International Airport Community Improvement Plan, taxpayers would provide $13 million in grants over 25 years to Germain Hotels to build the new Alt Hotel. The grant would see Germain Hotel receive 75 per cent of their $17.4 million in property taxes returned in a rebate. "This new path forward will provide relief to Germain Hotels to help manage construction costs. Additionally, the Authority will make some adjustments to Germain’s lease payment obligation."
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