City officials look for solutions to Hotel Utica's financial woes
UTICA (WKTV) - Commissioner of Urban and Economic development Robert Sullivan says we can soon expect to hear some solutions to Hotel Utica's ongoing financial struggles.
The hotel owes more than $6 million on a loan from the U.S. Department of Housing and thousands in city taxes.
While the management for the hotel says they are working on payments, the city says it is been carrying a burden of the costs.
city officials say they will work with the owners to keep it afloat because closing up a downtown building is not a good option.
"What will we achieve by having another building downtown number two we put people out of work, Sullivan said.
Sullivan adds that his office has come up with several plans and after coming to one viable solution, they will hold a press conference in the coming weeks.