Business  |  Tax Incentives


Turdor Arms Hotel, LLC
Agreement #024-12-01
Zone 024


Agreement Information

Community: CLEVELAND      ODOD Status: Active
County: CUYAHOGA      Agrmt Date: 10/22/2012
Local School District:      Amend. Date:
Nature of Business: retail - hotel      Expiration Date: 12/31/2023
School Comp Agreement: No      Revenue Sharing: No
Estimated Annual School Compensation SIC Code:

Real Property

Acquisition Improvements New Construction Total
Investments $500,000.00 $9,560,000.00 $0.00 $10,060,000.00
Exemptions $5,736,000.00 $0.00 $5,736,000.00
 

Personal Property

M & E F & F Inventory Total
Investments $0.00 $4,000,000.00 $0.00 $4,000,000.00
Exemptions $0.00 $0.00 $0.00 $0.00
 

Incentives

Variable Rate Rate Term
Real No $60.00% 10 yrs
Personal No $0.00% 0 yrs
 

Relocations

From Out of State: No State: Jobs:
In State: No Community: Jobs:
Waiver Issued by ODOD: None
 

Employment

Existing Employment Job and Payroll Commitments
Employment at site: 52      Number Payroll
Employment in Ohio: 52      Retained 52 $1,062,328.00
     Fulltime Permanent 50 $1,100,000.00
     Fulltime Temporary 0 $0.00
     Parttime Permanent 0 $0.00
Parttime Temporary 0 $0.00
Job Creation Period: 36 months
 

Performance/Compliance

 
Agreement Status is: Active
Total full time equivalents at Site: 94      Cumulative Taxes
Jobs Created: 94 Real Property Taxes Paid: $335,164.84
Jobs Retained: 0 Real Property Taxes Forgone: $147,081.76
Total FTE in Ohio: $94.00 Personal Property Taxes Paid: $0.00
New Payroll: $2,287,737.00 Personal Prop. Taxes Forgone: $0.00
Project Investment Local Corp Income Taxes Paid:
Real Property: $9,216,666.67 Other Tax Incentives: $0.00
Personal Property: $0.00 TIRC Date: 8/25/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $112,426.76 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $73,540.88
Personal Property Taxes Paid: $0.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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