The Kennebec Valley Community Action Program is hoping to take over the historic Gerald Hotel in Fairfield in a $6.5-million deal at the end of this month.
The Morning Sentinel reported that the sale, partially financed through a tax credit to fund historic preservation work, will turn the historic hotel into apartments for residents age 55 and older.
Renovation work at the hotel is scheduled to begin in November.
The hotel, located on the town’s Main Street, currently belongs to Mark Richardson, doing business as Liberdade Sunrise LLC.
