Canton OK’s hotel deal

Error message

  • Notice: Undefined index: taxonomy_term in similarterms_taxonomy_node_get_terms() (line 518 of /home1/vanzand1/public_html/vanzandtnews/sites/all/modules/similarterms/similarterms.module).
  • Notice: Undefined offset: 0 in similarterms_list() (line 221 of /home1/vanzand1/public_html/vanzandtnews/sites/all/modules/similarterms/similarterms.module).
  • Notice: Undefined offset: 1 in similarterms_list() (line 222 of /home1/vanzand1/public_html/vanzandtnews/sites/all/modules/similarterms/similarterms.module).

By Donnita Fisher

Managing Editor

June 16, The Canton City Council approved a Canton Economic Development Corporation agreement and added its own incentives to a deal to bring a hotel and conference center to property on I-20 adjacent to Splash Kingdom .

The city agreed to give C&E Group $200,000 incrementally with payments based on reaching construction benchmarks. 

This loan will be forgiven incrementally based on the amount of property tax being paid after the new building is on the tax rolls.

“The amounts paid each year in property taxes will reduce the outstanding principle amount by that amount,” Mayor pro tem Shawn Stewart said.

The city’s additional funding brings the total incentive package to $376,000.

The three-story Country Inn and Suites by Carlson is projected to have up to 88 rooms, a 5,000 square foot conference center and space for two restaurants pad sites.

CEDC Executive Director Julie Seymore estimated the facility would employ 20 to 25 full time employees and generate $200,000 in hotel tax revenue annually.

The CEDC’s portion of the incentive package is a five-year contract that ends Dec. 31, 2021, Seymore said.

During that time, C&E must hire and maintain at least 20 full time jobs. Other incentive clauses state that the company must make property tax payments on time and must be open by Dec. 1, 2016.

To read the full article, subscribe to the Canton Herald or pick up a copy from one of our vendors.