Laserfiche WebLink
9 <br />10. <br />11. <br />EXHIBIT A continued <br />c. State the proposed schedule for hiring (itemized by the name of the employer, full-time, part- <br />time, permanent and temporary employees): <br />GLHG Mayfield Holdings LLC (Hotel) - 2 full time employees and 3 part-time employees by 012022 <br />GLHG REST LLC (Restaurent) - 2 FT and 5 PT by 012022 and 1 FT and 5 PT by 032022 <br />a. Estimate the amount of annual payroll taxes such employees will add: $ $46,527.00 <br />(itemized by the name of the employer, full-time, part-time, permanent and temporary <br />The amount $46,527 Is the total payroll tax liability increase annuely with a total <br />employees). of 16 employees hired (includes PT and FT). <br />b. Indicate separately the amount of existing annual payroll relating to any job retention claim <br />resulting from the project. $_ 958,495.00- Estimated Gross Pay during the renovation project In 2021 <br />Estimate the amount to be invested by the Property Owner to establish, expand, renovate or <br />occupy / operate a facility: <br />a. Acquisition of building(s) / real estate: <br />b. Additions / new construction: <br />c. Improvements to existing buildings: <br />d. Machinery and equipment: <br />e. Furniture and fixtures: <br />f: Inventory: <br />Total Project Investment: <br />$ <br />$ 950,000.00 <br />$ 218,112.00 <br />$ 1,168,112.00 <br />a. Property Owner requests the following tax exemption incentive: 75 % for 10 years <br />covering <br />$1,168,112.00 as described above. Be specific as to the rate and term. <br />b. Business' reasons for requesting tax incentive (be as quantitatively specific as possible): <br />-The site requires the upgrade due to its condition and to maintain its franchise agreement with - <br />Holiday Inn. The approx. $26,000 In annual property tax IncwMves enables us to reallocate the <br />-excess cash flow Into operations such as 20% towards marketing, 40% towards payroll and - <br />hlring, and 40% towards our franchise standard requirements of enhanced technology to better <br />-serve our guests. Our theory Is that the more marketing spend will Increase occupancy thus <br />result In Increase of the sales tax Income. The some would apply to the increase in hiring more <br />-staff to support the Increase in occupancy will benefit the city's Income tax revenues. We believe <br />the reallocation of our dollars will Improve our top line growth, Increase hiring and result In a win- <br />-win for both the hotel and the state and local's Income. <br />12 <br />