(News/Talk 1480 WHBC) – The City of Canton says a developer wants to purchase and renovate the McKinley Grand Hotel.

“It’s really exciting news for us,” Mayor Tom Bernabei said on with Canton’s Morning News.

“Of course the McKinley Grand has been a great place and it would be great to get new investment into it and bring it up to the standards that we remember.”

He says city council is considering a 10-year 75 percent tax abatement for the developer, whom the city is not ready to disclose just yet.

Mayor Bernabei says he had his honeymoon there and his daughter got married there.

“It’s been a great place for our family and for Canton, and we want to see it restored to its former grandeur.”