Full Service Hotel: CSS Completed for 2005 Tax Year

The property is a luxury hotel complex that contains 224 guest suites, a full service restaurant, lounge/bar area, heated indoor and outdoor pools, multiple function rooms and a guest parking area. The building is a six story structure situated on a 4.89 acre site with an overall building area of approximately 173,000 square feet.




• Placed in Service: June 2005
 
• Cost Basis: $20,494,790
 
• Accelerated: $4,377,888 (21.4%)
 
• 1st Year Savings: Over $250,000*
 
• 10-Year NPV Savings: Over $962,000**

Resort: CSS Completed for 2004 Tax Year

This 4-story hotel complex was originally built in 1874. Prior to acquisition in 1997, the property had been condemned and remained vacant for more than 21 years. Significant renovations to the exisiting building, and the addition of two building wings, began after the acquisition. A portion of the renovation costs were eligible for Historic Renovation Credits, and a major portion of the building wing construction was eligible for bonus depreciation.

• Placed in Service: May 2003
 
• Cost Basis: $30,097,042
 
• Accelerated: $11,193,668 (37.3%)
 
• 1st Year Savings: Over $2,340,000*
 
• 10-Year NPV Savings: Over $2,690,000**

Limited Service Hotel: CSS Completed for 2002 Tax Year

The four-story facility has a total of 96 guest rooms and consists of a main lobby, breakfast/dining area, two lounge areas, indoor heated swimming pool, inground hot tub, games room, and exercise room. As part of the combined site-wide conference capability, the property contains three conference rooms of various sizes accommodating a maximum of 105 people.

• Placed in Service: July 1998
 
• Cost Basis: $7,520,418
 
• Accelerated: $2,925,443 (38.9%)
 
• 1st Year Savings: Over $570,000*
 
• 10-Year NPV Savings: Over $598,000**