Developers planning to build a $21.8 million Marriott Residence Inn in the parking lot at the Milleridge Inn in Jericho were approved for aid Wednesday evening by the Nassau County Industrial Development Agency.

The developer behind the project is listed as John A. Danzi. Danzi is a principal at Long Island Hotels LLC., an Islandia-based hospitality company that builds and manages hotels, according to a company website. The company owns at least two other hotels on Long Island, the site said.

“There was a lot of concern from the community when it appeared the Milleridge Inn . . . faced the possibility of closure,” Joseph J. Kearney, executive director of the IDA, said Wednesday. “This is absolutely a great enhancement for the property and a much-needed facility for the area.”

According to the application, the developer will seek site plan approval for a 127-room hotel requiring an estimated 85,102 square feet of space. The hotel will not offer a full service restaurant and instead hopes to capitalize off of and benefit the neighboring Milleridge Inn’s dining options, an attorney for Danzi said.

The developer’s ground lease with the property’s owner, Kimco Realty, for the 2.5 acre parking lot is contingent upon zoning approvals and IDA aid.

Danzi said he would “like to start in the fall of next year” on the four-story hotel’s construction. He has built four hotels on Long Island previously, he said.

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The IDA approved the project for a sales tax exemption of up to $925,000 on the purchase of construction materials and equipment for the facility, a mortgage recording tax exemption of up to $120,000 and a 20-year tax deal that freezes the property tax rate for the first three years of the project, followed by increases of 2 percent for the remaining 17 years.

Kimco Realty, a New Hyde Park-based real estate investment trust, purchased the historic Milleridge Inn property in 2015 for $7.5 million. The inn, and its adjoining retail shops, abuts Kimco’s Jericho Commons shopping center.

After the property changed hands, community members launched a grassroots campaign to push for assurances that the eatery would not be closed or drastically altered. The property dates back to the 1600s.