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Enoble
Project Number: 20130901
Pilot Type: Standard/Basic
Status: Terminated
Parcel ID: 080023 A00023C
County Commission District: 13 | City Council District: 2
Pilot Type: Standard/Basic
Status: Terminated
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.
THE ENOBLE PILOT AGREEMENT WAS TERMINATED, JULY 14, 2016.
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 Payroll:
$1,844,958
Annual Retained Direct 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
(75%)
County:
$304,763
(75%)
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
3/13/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Effective
3/13/2019
Lease Begins
3/13/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Lease Expires
3/13/2019 (Real)
12/31/2019 (Personal)
12/31/2019 (Personal)
Amended
Not applicable
Property Details
Lease Began
3/13/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Lease Expires
3/13/2019 (Real)
12/31/2019 (Personal)
12/31/2019 (Personal)