It's an award that many say will transform the North Country.

On Thursday, the North Country Regional Economic Development Council was awarded more than $100-million dollars in state funding.

Money will go towards 70 economic development projects in 7 counties.

One of those projects is a proposed $35 million-dollar luxury hotel in Clayton.

"The community was a buzz about 12:30 Thursday once the press releases started to come out of Albany and the governor made his announcements.  the community really was very excited," says Town of Clayton Supervisor Justin Taylor,

More than $2 million dollars will go to Kong Corporation, the company developing the hotel.

Officials say the money is crucial to move the project forward.

"We had been told by the developers that there was a little bit of a gap that they needed to have filled for the project to go forward, and we think this will help narrow that gap, if not completely eliminate it," says Taylor.

The remainder of the $3 million will go to the village, to be used to help pay for sewer, water and electricity.

"That will give us $1-million for infrastructure for that project, to put everything sort of on the ground and under the ground from a utilities perspective," says Taylor.

While officials are happy with the money awarded, the community still has concerns that a hotel as large as the one proposed couldn't make it during the winter months.  Officials say developers are prepared for all seasons.

 "Krog, as a developer and Hart Hotels as the hotelier for the project...this is what they do.  Hart Hotels has 13 in their chain," says Taylor.

Krog anticipates having a finalized plan for the hotel soon.  Thanks to the awarded money, the hope by all is to start construction in the next year, and have a grand opening sometime in 2014.