YOUNGSTOWN, Ohio (WYTV) – A meeting to decide whether a new downtown hotel can get a big break on property taxes is postponed.
Developer Dominic Marchionda planned to sit down with Youngstown Schools CEO Krish Mohip and Mayor John McNally Wednesday to talk about the possibility of a 15-year, 100 percent property tax abatement.
Mohip got called to a meeting in Columbus, so thr meeting had to be postponed.
Marchionda’s company plans to turn the Stambaugh Building on Central Square into a Double-Tree Hotel.
School district leaders must approve an abatement that large. If they don’t, the city can still let the developer only pay 25 percent of its property taxes for 10 years.