Funds Approved To Assist The Lodge At Chautauqua Lake
A new development in the Mayville area is getting some financial assistance.
During the Chautauqua Region Economic Development Corporation, board members approved an agreement with Webb Hospitality Group, LLC. The agreement permits $450,000 from a Community Development Block Grant be used to support The Lodge at Chautauqua Lake. The money will be used to assist Webb’s in the funding of fixtures, furnishings and equipment with the development of a restaurant and bar, pool and fitness center, meeting rooms and other amenities.
According to the agreement, $217,000 would be a term loan, $217,000 would be a deferred loan, and up to $16,000 would be used for program delivery and administrative costs.
The Lodge at Chautauqua Lake is scheduled to be built at 74 Water St. CREDC board members described it as a 34 unit, $17 million condominium resort. They said during the meeting the project is expected to break ground in the spring.
In September, Benjamin Webb, Owner/President of Webb’s Captain’s Table, said these luxury residences will offer an ownership experience unlike anything else on Chautauqua Lake.
“The Lodge at Chautauqua Lake will create a new facility in the Village of Mayville, which will generate jobs, enthusiasm and positive energy,” he said. “This will generate over $180,000 in tax revenue for the school district, town and village, while at the same time it will create a captive market of patrons for local businesses to participate in and help our village and town thrive.”
The resolution was unanimously approved.