New Paltz hotel project gets $1.06 million in tax breaks from Ulster County Industrial Development Agency

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New Paltz hotel project gets $1.06 million in tax breaks from Ulster County Industrial Development Agency

KINGSTON, N.Y. — The Ulster County Industrial Development Agency has approved $1.06 million in tax breaks for a planned hotel in the village of New Paltz. The proposed 28-unit New Paltz Way hotel at 11 Water St. was granted $600,000 in sales tax exemptions, $440,860.22 in savings through a payment-in-lieu-of-taxes agreement, and $15,300 through a mortgage tax waiver by the agency on Wednesday, Feb. 19. Under the plan, developers will demolish a …