Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Project Gemstone topic
No spam. Unsubscribe anytime.
Council unanimously advances 'Project Gemstone' SSRC for planned Candleroot Lodge Golf resort
Summary
Council approved second reading of an SSRC for Project Gemstone, identified by the project representative as 'Candleroot Lodge Golf', a resort proposal with four golf courses, wellness amenities and an expected minimum $100M investment and 150 jobs within 10 years.
Council on June 23 approved second reading of an SSRC agreement for Project Gemstone, a proposed commercial resort the project representative identified in public remarks as "Candleroot Lodge Golf." A representative, identified in the meeting as Mr. Smoke, summarized the development as including four golf courses plus a par‑3 course, walking trails, a restaurant and eventual accommodations.
Mr. Smoke told council the project expects a minimum $100 million investment and 150 full‑time jobs within a 10‑year investment period, with a 30‑year special source revenue credit term that would provide a 50% credit during the credit period. County staff summarized the agreement’s headline terms as a 6% assessment ratio, a 50% SSRC during the credit term, and a 10‑year investment window.
Council discussion focused on standard due diligence and the economic tradeoffs of incentive packages; representatives emphasized that the SSRC and fee‑in‑lieu mechanism affect tax treatment, not land use. The SSRC motion passed on second reading unanimously and will return for later readings where final project details and timelines will be confirmed.
