Youngstown council authorizes one tax abatement, postpones vote on another

YOUNGSTOWN

City council authorized the board of control to approve a 75-percent, 10-year real property-tax abatement for a downtown 130-bed hotel.

But at the request of the city administration, council postponed a vote Wednesday on a similar abatement for Fireline Inc., which manufactures industrial ceramics for the aerospace industry.

That’s because Fireline, on Andrews Avenue, also is seeking property from the city land bank and possibly financial assistance from the municipality for its $5.76 million addition, and it’s easier to seek it all at once, said T. Sharon Woodberry, the city’s director of community planning and economic development.

Council unanimously approved the abatement to Youngstown Stambaugh LLC, an NYO Property Group subsidiary building the $35.4 million DoubleTree by Hilton Hotel at the vacant Stambaugh Building, 44 E. Federal St.

The abatement would save the company $2,288,870 over 10 years. It would pay $762,960 in taxes over that time period.

For more on the matters and the meeting, read Thursday's Vindicator or on Vindy.com.