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Published: Thursday, 12/6/2001

Lima panel backs plan to lease ex-depot, hotel

LIMA, Ohio - City council's utilities committee has approved a plan to lease the former Amtrak train station and the former Cambridge Hotel next door to use as a payment and billing center for the utilities department.

Downtown Lima, Inc., has offered to purchase, renovate, and lease the property to the city. Jay Smith, director, said that as a private organization, Downtown Lima could qualify for a historic tax credit of up to $250,000 if it takes on the project.

If approved by city council, Downtown Lima would buy the property for $50,000 and spend up to $1.7 million to renovate it.

The city previously had looked at purchasing and renovating the property, but it would not qualify for the tax incentive.

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