The redevelopment of The Groggery Bar and Restaurant in Fayette, previously known as the Fayette Hotel, is a step closer to fruition, with developers seeking financial incentives from the Seneca County Industrial Development Agency (IDA).
During a public hearing on March 14, no objections were raised against the proposal by Kyle Mosher and Christopher Stamberger for a 10-year payment-in-lieu-of-taxes agreement and a sales tax exemption on project-related materials. The plan includes transforming the currently vacant establishment into a mixed-use space featuring six two-bedroom apartments and retail areas.
An analysis predicts a return of $18.10 for every dollar spent on the redevelopment, highlighting the project’s potential economic impact. However, IDA Executive Director Sarah Davis clarified that the board would not grant final approval at its next meeting, pending the town’s rezoning and the completion of the State Environmental Quality Review process.
With the IDA meeting scheduled for March and April not set to finalize the financial incentives, developers await the town of Fayette’s zoning decisions and the necessary environmental assessments. The IDA’s next opportunity to approve the project’s support measures will be on May 2.
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