Business Briefs

Durham commissioners offer incentives to hotel developer

Posted October 23, 2012

Map Marker  Find News Near Me

— County commissioners voted Monday to offer up to $605,000 to a developer looking to build a 54-room boutique hotel in downtown Durham.

Durham City Council voted last month to offer a similar incentive to Gentian Group LLC, which wants to convert the Mutual Community Savings Bank building at 315 E. Chapel Hill St. into a hotel.

Officials said the proposed $11 million hotel would create 89 permanent jobs, as well as 100 construction jobs.

The incentives will be paid out over seven years if the developer hits investment and hiring targets, officials said. No money would be paid until after the hotel opens.


This story is closed for comments.

Oldest First
View all
  • 68_dodge_polara Oct 25, 2012

    Great. Good to know my tax dollars are being used for corporate welfare.

  • tgentry1005 Oct 24, 2012

    I believe there are plenty of vacant rooms in the other downtown hotel that probably still gets a lot of tax money. So how is another hotel tying up more tax money going to make more people come to downtown Durham?

    With Durham's track record of using tax money, it appears we are getting another black hole for tax money!!!

  • lb27608 Oct 24, 2012

    For under $100K per year over seven years, this money will help revitalize an unused building downtown, create 89 jobs, and bring people into the city to spend money. "Just throw'n money away"? Hardly. It's called an investment.

  • paultaylorsr100 Oct 23, 2012

    And how long will it take to recoup these "incentives"? AND, we're going to spend about $6,700 to create each "perm" job. How many of those "perm" employees will actually live and pay taxes in Durham? Just throw'n money away.

  • sw3090 Oct 23, 2012

    yea I'm sure nobody is getting kickbacks from this deal