There could be hope for the stalled, and incomplete Finger Lakes Resort & Hotel project along Canandaigua Lake, according to city officials.
City Manager John Goodwin said on Friday that the project is ‘gaining momentum’ and moving in the right direction.
Summit Financial out of Utah is providing the financing, according to Goodwin, splitting ownership of the property in three ways – Bob Murphy will own 50 percent, David Genecco will own 30 percent, and Summit Financial will own 20 percent.
According to Goodwin, the hotel chain Hilton has approved plans for a Hilton Tapestry on the property.
There is no longer a HUD loan on the property, and developers are waiting on title search work to finish up on the old HUD loan.
In March a tax abatement was approved for the project. The agreement would keep taxes the same for the property through the first five years, then increase them incrementally over the final five years of the 10-year deal.
Goodwin said he’s hopeful that will happen in the next two months.
