News 6 April 2019

City provides incentives for proposed inn

A proposed Cobblestone Inn with the same number of rooms as the one in Waverly received a financial incentive to locate in New Hampton on Monday, and the city will still gain some new money from the venture.
That’s because New Hampton City Council approved rebating a flat 50 percent of the 7 percent hotel-motel tax the business generates for the first five tax years it will be in town, and after year five, the city will collect 100 percent of the location’s hotel-motel tax.
A 45-room hotel is planned, and private investors exist within the community, Economic Development Director Tammy Robinson said. 
For more on this article see the April 5 Tribune.

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