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Historic Fayette Hotel to transform into housing, business space with IDA support

In a revitalization effort for the hamlet of Fayette, business partners Chris Stamberger and Kyle Mosher, under their Groggery Development LLC, are set to transform the former Fayette Hotel into a residential and commercial space. The duo’s plan includes the creation of six two-bedroom apartments and a versatile business area, aiming to address the long-term housing shortage in Seneca County. The project will also feature amenities such as a coin-operated laundry, barbecue stations, and an outdoor dining area, enhancing the living experience for future residents.

To facilitate this transformation, Stamberger and Mosher have sought assistance from the Seneca County Industrial Development Agency (IDA), applying for a 10-year Payment In Lieu Of Taxes agreement and a sales tax exemption for project-related purchases. The IDA’s unanimous approval of the initial inducement resolution marks a positive step forward, with a public hearing and a cost-benefit analysis to follow.

This redevelopment initiative is not only expected to provide much-needed housing but also to contribute to the hamlet of Fayette’s revitalization plan. The proposed business space within the project aims to foster community engagement by potentially housing a coffee shop or barber shop. With an estimated project cost of $680,000, the developers view IDA support as crucial for accelerating the project timeline, laying the groundwork for further investments in Seneca County.