Arcade REHC 1, LLC

Project Description

The project which was originally approved for incentives on November 12, 2017 is now complete and the parties are ready to execute the Lease and PILOT Agreement. The Company will be closing the financing for the project and wish to include the amount to pay off the WCBAC loan in the mortgaged amount. The additional financing amount will exceed the originally approved amount to receive mortgage tax exemption. The Board agreed to increase the amount to receive the exemption to an amount not to exceed $2,450,000.