Tourism Development Act 2019 Report to the Legislature The following applications were received and approved by the West Virginia Development Office in 2019: CORDUROY INN AT SNOWSHOE TYPE: Expansion project LOCATION: Snowshoe, Pocahontas County DESCRIPTION: A new 48,000 square foot hotel and conference center, which will hold events for 300 people, will be built adjacent to the existing Corduroy Inn on Snowshoe Mountain. TOTAL INVESTMENT: $11,300,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $3,955,000 CURRENT STATUS: Application submitted on Friday, November 15, 2019. Currently under review for approval. GREENBRIER VALLEY AQUATIC CENTER TYPE: New project LOCATION: Lewisburg, Greenbrier County DESCRIPTION: This project includes the initial construction of the Greenbrier Valley Aquatic Center constructed on 5 acres located on the State Fairgrounds in Lewisburg, WV. The project will encompass 31,700 square feet and consist of a 25-yard 6 lane competition pool, 30'x50' recreation pool, 12?x20? therapy pool, concessions, party room with a kitchen, cardio exercise room, classrooms, locker rooms and other amenities. The facility will support local members and will cater to the competitive traveling swim teams. TOTAL INVESTMENT: $5,760,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $1,440,000 CURRENT STATUS: The project is currently finalizing their capital and anticipate initial construction in 2020. Applicant has received a contract; WVDO is awaiting a signed copy. GRAND PATRICIAN RESORT TYPE: New project LOCATION: Milton, Cabell County DESCRIPTION: The project will sit on 178 acres with a 9-hole golf course, country club, a 111 room hotel, a 120 room business class hotel, indoor Olympic-sized pool, Colosseum Arena, sports-themed steakhouse, wedding chapel, convention center, spa, and coffee bar. TOTAL INVESTMENT: $64,495,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $15,123,750 CURRENT STATUS: Approved and signed by both parties in November 2019. Construction has already begun with anticipated completion in December 2020. RUSTIC RAVINES TYPE: New project LOCATION: Genoa, Wayne County DESCRIPTION: Phase One and Two of this project include the construction of six (6) IUXury rental cabins and renovating four (4) existing cabin rentals on the property. Phase Three consists of building a one half mile, two hundred (200) foot high zip-line, a game room and restaurant/sports bar. Phase Four, Five and Six will be the development of more unique lodging and the development of: park; Lodge/Conference Center; Multi-purpose facility; Campground; Shower House; Dump Station; Added Attractions/ Mountain Coaster; Pay Lake; Gift Shoppe. The facility is catering to tourists coming into the area to utilize the Hatfield and McCoy trail-system. TOTAL INVESTMENT: $2,100,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $735,000 CURRENT STATUS: The project is currently constructing Phase 3 and is being certified. SOUTH HIGH STREET REDEVELOPMENT (HOTEL MORGAN) TYPE: New project LOCATION: Morgantown, Monongalia County DESCRIPTION: Rehabilitation of the historic Hotel Morgan, located at South High Street in Morgantown, into an 81-room boutique hotel including a gathering room, cafe/bar, and rooftop terrace. TOTAL INVESTMENT: $15,578,234 TOTAL MAXIMUM ALLOWABLE CREDIT: $5,452,382 CURRENT STATUS: The applicant has been notified of approval and sent a contract for review. HILL TOP HOUSE HOTEL TYPE: New project LOCATION: Harpers Ferry, Jefferson County DESCRIPTION: Rehabilitation ofa hotel adjacent to the Harpers Ferry National Park and Historic District. Project will include the rehabilitation of the 129-room hotel, armory houses, meeting and conference space, five food and beverage establishments, cooking school, fitness center, basketball court, bowling alley and underground parking. TOTAL INVESTMENT: $138,897,882 TOTAL MAXIMUM ALLOWABLE CREDIT: $48,614,259 CURRENT STATUS: Approved and signed by both parties in November 2019. Construction is anticipated to begin in Q3 of 2020. Tourism Development Act Yearly Activity: 2018 No new projects were submitted. 2017 No new projects were submitted. A letter approving a project submitted in late 2016 was approved in January for River Riders in Jefferson County. 39.15. RIVER RIDERS TYPE: Expansion project LOCATION: Harpers Ferry, Jefferson County DESCRIPTION: Expansion of the limited?season outdoor adventure park into a year-round family adventure resort with the addition of a full-service hotel and indoor activity center. TOTAL INVESTMENT: $10,207,500 TOTAL MAXIMUM ALLOWABLE CREDIT: $3,572,625 CURRENT STATUS: The company has 8-10 years to assert the credit. All}: ACE ADVENTURE RESORT TYPE: Expansion project LOCATION: Minden, Fayette County DESCRIPTION: This project is an expansion of ACE's main campus, including the lake area, lake activities, and food and beverage outlets. Renovation and expansion of 24 cabins to attract and accommodate more out?of?state visitors. The project includes the addition of two waterpark slides, new restaurant and bar, a multipurpose building with a general store and a bath house, additions to 24 cabins, and other small projects to attract out of state families and church groups. TOTAL INVESTMENT: $1,250,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $437,500 CURRENT STATUS: The company has 7-9 years to assert the credit. STONEWALL RESORT TYPE: Expansion project LOCATION: Roanoke, Lewis County DESCRIPTION: This expansion project will construct 100 privately-financed, lodging units. Phase One is to be established on 15 acres and will contain 20-25 units. Phase Two will establish other areas of the park, within a 10-year plan. TOTAL INVESTMENT: $17,000,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $5,950,000 CURRENT STATUS: The company has approximately 7?9 years remaining to assert the credit. THE GREENBRIER -TENNIS STADIUMIWEDDING CHAPEL TYPE: Expansion project LOCATION: White Sulphur Springs, Greenbrier County DESCRIPTION: This expansion project added a 46,285 square foot multi-use tennis stadium that seats 2,526 spectators. Concurrent with the tennis stadium construction will be a 400?seat, 15,000 square foot Wedding Chapel, built to increase destination wedding business at The Greenbrier. TOTAL INVESTMENT: $11,505,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $4,026,750 CURRENT STATUS: The company has 7?9 years remaining to assert the credit. 2014 THE GREENBRIER RESORT SAINTS ATHLETIC FACILITY TYPE: Expansion project LOCATION: White Sulphur Springs, Greenbrier County DESCRIPTION: This project includes a 52,800 square foot multi-use athletic and entertainment facility and complex located at The Greenbrier Resort, acquired, designed, constructed and operated by The Greenbrier for various athletic/sports and entertainment events and uses, including without limitation amateur and professional sports training and athletic events, conferences, concerts, and weddings/receptions. The Greenbrier has contracted with the NFL's New Orleans Saints for the facility to serve as their summer training camp venue. TOTAL INVESTMENT: $27,038,282 TOTAL MAXIMUM ALLOWABLE CREDIT: $9,463,399 CURRENT STATUS: The company has 6-8 years remaining to assert the credit. 2013 No applications received or approved. 2012 No applications were received or approved. 2011 No applications were received or approved. 2010 No applications were received or approved. .2915! ADVENTURES ON THE GORGE TYPE: Expansion project DESCRIPTION: This project created a new adventure center with a restaurant, bar, and lodging. Other additions to the resort included: zip?lines and canopy tours, hiking, disc golf, rock climbing, low ropes course, fishing trips, mountain biking, paintball, pool, playground, horseback riding, kayaking instruction, trips to Summersville Lake, a kids obstacle course, and arcade. TOTAL INVESTMENT: $5,800,000 TOTAL MAXIMUM ALLOWABLE CREDIT: $2,030,000 CURRENT STATUS: The statutory time limit on the credit will expire in the next 3 years. AMERICAN MOUNTAIN THEATER TYPE: New project LOCATION: Elkins, Randolph County DESCRIPTION: The American Mountain Theater was a Branson, MO style family music, comedy, and variety show venue, which operated for three years on a part?time basis in an old leased facility. American Mountain Theater built a new 10,640 square foot, 525-seat, state of the art music theater, opened in May 2007. The facility is located in the 22-acre Historic Elkins Railyard Development, next door to the Old Train Depot, headquarters for the Durbin Greenbrier Valley Railroad. Other attractions also built in the Railyard are new retail shops, a new theme restaurant and the West Virginia Railroad Museum. TOTAL INVESTMENT: $1,312,908 TOTAL MAXIMUM ALLOWABLE CREDIT: $328,227 CURRENT STATUS: Company has since closed for business. 2008 No applications received or approved. 2007 No applications received or approved. 2006 No applications received or approved. THE RESORT AT GLADE SPRINGS TYPE: Expansion project LOCATION: Daniels, Raleigh County DESCRIPTION: This project included an expansion of Glade Springs Resort, a day-use facility, into a full- service conference and vacation resort. This includes a 3,500 square foot ballroom, 2 meeting rooms, restaurant, sports bar, hotel lobby, 51 guest rooms, offices, golf academy, locker rooms, indoor pool, spa expansion, spa snackbar, 4 lane bowling center, arcade, Glade Creek recreational improvements, ice skating rink, walking and biking trails, and a low elements team?building course. TOTAL INVESTMENT: $16,779,247 TOTAL MAXIMUM ALLOWABLE CREDIT: $4,194,812 CURRENT STATUS: The statutory time limit on the credit has expired. WINTERPLACE SKI RESORT TYPE: Expansion project LOCATION: Ghent, Raleigh County DESCRIPTION: This expansion included construction of a two-level, 14,400 square foot expansion to the existing Resort Center, construction of 26 acres of additional ski terrain, purchase of 138 acres adjacent property for future expansions, and the expansion of the teaching area. Snowmaking improvements, equipment purchases and improvements to the Mountain House, and an existing mid?mountain facility were also included in the project. TOTAL INVESTMENT: $7,328,086 TOTAL MAXIMUM ALLOWABLE CREDIT: $1,832,022 CURRENT STATUS: The statutory time limit on the credit has expired. OGLEBAY RESORT TYPE: Expansion project LOCATION: Wheeling, Ohio County DESCRIPTION: This expansion project constructed a S3?room addition to the National Training Center, as well as the renovation of the 212 guest rooms and support facilities in the Wilson Lodge. TOTAL INVESTMENT: $12,578,378 TOTAL MAXIMUM ALLOWABLE CREDIT: $3,144,594 CURRENT STATUS: The statutory time limit on the credit has expired. SUMMARY: This year (2019) has been the most robust year of the Tourism Development Act program since its inception in 2005. In November 2019, The WV Development Office approved five new projects totaling nearly $227 million for new investment in the state. The West Virginia Development office is aware of 3 to 5 other projects that are considering submitting applications by the end of 2019. It should be noted that the credit can only be asserted if the approved company increases sales tax collections from the base sales tax amount. The base sales tax amount is calculated from the 12 months preceding the attraction or improvement going into place. For most projects, the approved company may assert up to 25% ofthe approved project costs. Companies that are approved that border state or national parks or forests, or located on or adjacent to former mining properties, may assert 35% of the approved costs over a 10?13 year period. Projects approved in 2005 have either expired or are nearing the statutory maximum time period. The West Virginia Development Office calculations indicate that at present there is approximately $2,800,000 of credit that could potentially be asserted in a single year. Projects approved in November of 2019 could drive this to over $5.6 million. According to the Department of Tax and Revenue, approximately $1,408,854 has been asserted in 2019. The West Virginia Development Office is not informed on how much each individual taxpayer is asserting. This is considered proprietary and privileged information.