Huber Heights is offering the developer incentives to make the hotel larger. If the hotel opens with 125 rooms within 24 months of the closing date the city will refund $50,000 of the purchase price to the developer.
If the hotel opens with 88 rooms within 18 months, the city will refund $25,000. Or, if the developer opens the hotel with 88 rooms within 12 months, the city will refund $50,000 of the purchase price.
The developer also will have a six-month option to purchase an additional four acres at $300,000 per acre.
The agreement states the developer acknowledges the property “is located in close proximity to an outdoor music venue which may … generate noise and heavy traffic conditions during certain events.”
Health department and auditor records indicate LAXMI Hospitality LLC also operates the 72-room Hampton Inn at 5588 Merily Way, also in Huber Heights.
About the Author