Project Number: 20130901
Project Type: Standard/Basic
Parcel ID: 080023 A00023C
County Commission District: 13 | City Council District: 2

Summary

National Bankers Trust was approved for a four-year PILOT to enable the alternative commercial lender to invest $6 million while adding 43 new jobs at its new corporate headquarters located at 813 Ridge Lake Blvd.

National Bankers Trust will purchase the previously vacant 51,000-square-foot Ridge Lake facility and immediately occupy 34,000 square feet, with plans to expand into the remaining space.

The project will create $824,887 in new tax revenue for Memphis and Shelby County, a benefit-cost ratio of $1.40 in new tax revenue for every $1.00 of abated taxes

PILOT Term:

4

Projected New Jobs:

43

Projected Retained Jobs:

Not applicable

Total Jobs:

43

Projected Average Payroll of New Jobs:

$42,906

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$5,331,440

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$7,037,879
Real Property Investment:
$5,487,879

Personal Property Investment:
$600,000

Community Reinvestment Credit (CRC):
$950,000

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$824,887

Projected Taxes Abated:

$588,649
City: $283,886
County: $304,763

Benefit/Cost Ratio:

1.40

Projected MWBE/LOSB Spending:

$1,275,000

Incentive Provided:

$588,649

Compliance Information

Not applicable

Approved

9/18/2013

Ramp up Period

2

Closing

Not applicable

Effective

Not applicable

Lease Begins

Not applicable

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

Not applicable

Lease Expires

Not applicable

Enoble

813 Ridge Lake BLVD, Memphis, TN 0