Hotel Utica Sale Completed
Palmieri says the final closing is expected in the next several days.
"The City of Utica could not have asked for a better partner or steward of this iconic building. Despite drastic improvement in Downtown Utica over the past four years, the uncertainty surrounding the Hotel Utica did cause understandable frustration in the community." said Palmieri.
"But today marks a new chapter in Utica’s revival and I thank Andy for his vision and belief in Utica. I also thank Comptroller Morehouse for his continued partnership, the Common Council for improving an important measure that made the deal palatable and my staff for their tireless work in ensuring this historic day came to fruition.”
Comptroller William Morehouse says the city will be getting a check for about $833,000. He says Oneida County will get about $45,000 in back taxes.
Morehouse says Patel is hoping to partner with a brand name like Hilton.
Visions Hotels owns several other hotels in the Utica-area.