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RDC accepts ERIS project annual report: project complete and fully leased, 86 jobs reported
Summary
The commission accepted the written annual report for the ERIS project, which staff reported is complete, fully leased and reported 86 employees and other financials on its CF-1 filing.
The Greenwood Redevelopment Commission reviewed and accepted the ERIS project annual report, provided in writing. Because staff found the submission compliant with reporting requirements, the commission waived the oral report.
According to the CF-1 filing cited by staff, the project has completed construction and is fully leased. Staff reported the developer expended $9,600,000 on the project and the project generated $8,600,000 in new assessed value. To date the project has produced $205,000 in property taxes, staff said, and the CF-1 reported 86 employees with total salary payments of $3,300,000.
Commission staff reminded the commission that the RDC provided approximately $309,000 in incentives for the project and that the project agreement anticipated $1,300,000 in additional property tax revenue to be collected by December 31, 2030. Staff said an additional CF-1 filing will be provided later this spring.
A commissioner asked whether the project had a required job count; staff replied the project had reported 86 employees and did not have a set required number under its agreement. No further action was taken beyond accepting the written report.
