Print
E-mail
Comment
Rate
Developer shares demographics for resort
by diane vance/gate city staff writer
HAMILTON, Ill. - A proposed $116 million resort community on the Great River Road will work, the backers say, because the demographic studies of the area compare favorably with demographics around Branson and Lake of the Ozarks, Mo., Galena, Ill., and the Wisconsin Dells.
"It's an untapped resource," said Steve Sanders, owner of Great River Golf Club, Nauvoo, Ill. "The Mississippi River is a great attraction that has not been utilized. And studies show the population in 50-miles, 100-miles and 300-miles radius will make this work."
Sanders has joined with the GilRan Group, LLC of Waunakee, Wis., to expand the Great River Golf Course and develop a new destination resort.
As reported in Wednesday's Daily Gate City, GilRan is planning a 164-room hotel, an indoor water park, a name-brand restaurant, business convention facility and 60 condominiums in Phase 1 of the project.
There are five phases of construction from 2004 to 2013 for the golf course area about five miles north of Hamilton on the river bluffs.
The other four phases add more condos - up to 140, single family homes - up to 96, commercial development (i.e., stores, shopping as needed) and a 21-acre RV park, all in a gated community.
"It's a very scenic area," said Conrad "Connie" Seymour, consultant to GilRan.
"Larry Creek empties into the Mississippi River and we want to establish a scenic overview for travelers," said Seymour.
Hamilton School Board member Joni Morris asked about dock facilities on the river.
"We met with state representatives today," Sanders said. "Illinois owns that as 'excess land' along the river."
Seymour said the Great River Road Resort would eventually like to have a small marina with access to the Mississippi River there.
"The more amenities, the more variety, the more people are attracted to come," he said.
Seymour presented the financial picture to the Hamilton School Board Tuesday evening.
Seymour and Bill Ranguette, principal of GilRan Group, said they anticipate the homes to be secondary or vacation homes.
Hotel rooms and the condos will be purchased as investment property, then rented back out to visitors when not owner-occupied.
"We have a similar project being built near the Wisconsin Dells in a rural area," said Seymour. The North Bay Resort in Adams County, Wisc., also features a golf course, condos, hotel, homes, conference center, marina on a lake and recreation facility.
"We anticipate the reverse of 'snow birds,' people will come here in the warmer months," said Ranguette. "This won't be the typical subdivision housing."
Hamilton superintendent Dr. Steve Breckon was interested in the financial impact for the school district.
Seymour said GilRan is asking for a 75 percent abatement of taxes for 20 years on Phase 1 which is the hotel that includes a restaurant, convention center, European spa, arcade waterpark, 60 condos and the rehabilitation of the golf course. GilRan estimates the value of Phase 1 at $45 million.
The packet distributed Tuesday evening shows the current Great River Road Golf Club pays a total of $8,957.26 in annual property taxes. Hamilton School District receives $4,964.36 of those property taxes.
Estimated total property taxes on the resort community for just Phase 1 development would be $1.3 million without abatement.
If the county taxing entities agree to the 20-year 75 percent abatement request, Hancock County would receive an estimated $376,051 annually from Phase 1 development. Hamilton School District's share would be $182,838 per year after abatement.
The difference between the projected abated taxes and the current annual property taxes received from the golf course, ($182,838 minus $4,964.36) equals $177,873.64 more to the school district even with the 20-year 75 percent abatement.
GilRan is also writing in its proposal to abate taxes at 20 percent for two years in Phase 2 and 10 percent for two years in Phase 3, if the income from Phase 1 is not at projected levels; i.e., if the developers need the money to continue building.
"Who will build this?" asked board member Craig Huls.
"We try to hire local contractors or sub-contractors," said Seymour. "If there are local contractors big enough. The hotel is a big project. But the homes and condominiums could be local contractors."
Board President Rusty Dowdall asked how many years GilRan has been in business.
"We're building our first resort now, near the Dells," said Seymour.
Jerry Baker, Hancock County economic/rural development director with the University of Illinois Extension, said the resort would be heavily marketed in large cities such as Chicago, Kansas City, St. Louis, Minneapolis, etc.
"We're looking at marketing through the business world, not the church world," said Baker.
The Hamilton School Board and the county supervisors Tuesday gave the concept a green light.
According to a timeline written by GilRan, a developer's contract about the tax abatement is scheduled for agreement in February to April 2004.
Construction on the project could begin in July 2004.
"It's an untapped resource," said Steve Sanders, owner of Great River Golf Club, Nauvoo, Ill. "The Mississippi River is a great attraction that has not been utilized. And studies show the population in 50-miles, 100-miles and 300-miles radius will make this work."
Sanders has joined with the GilRan Group, LLC of Waunakee, Wis., to expand the Great River Golf Course and develop a new destination resort.
As reported in Wednesday's Daily Gate City, GilRan is planning a 164-room hotel, an indoor water park, a name-brand restaurant, business convention facility and 60 condominiums in Phase 1 of the project.
There are five phases of construction from 2004 to 2013 for the golf course area about five miles north of Hamilton on the river bluffs.
The other four phases add more condos - up to 140, single family homes - up to 96, commercial development (i.e., stores, shopping as needed) and a 21-acre RV park, all in a gated community.
ADVERTISEMENT |
"Larry Creek empties into the Mississippi River and we want to establish a scenic overview for travelers," said Seymour.
Hamilton School Board member Joni Morris asked about dock facilities on the river.
"We met with state representatives today," Sanders said. "Illinois owns that as 'excess land' along the river."
Seymour said the Great River Road Resort would eventually like to have a small marina with access to the Mississippi River there.
"The more amenities, the more variety, the more people are attracted to come," he said.
Seymour presented the financial picture to the Hamilton School Board Tuesday evening.
Seymour and Bill Ranguette, principal of GilRan Group, said they anticipate the homes to be secondary or vacation homes.
Hotel rooms and the condos will be purchased as investment property, then rented back out to visitors when not owner-occupied.
"We have a similar project being built near the Wisconsin Dells in a rural area," said Seymour. The North Bay Resort in Adams County, Wisc., also features a golf course, condos, hotel, homes, conference center, marina on a lake and recreation facility.
"We anticipate the reverse of 'snow birds,' people will come here in the warmer months," said Ranguette. "This won't be the typical subdivision housing."
Hamilton superintendent Dr. Steve Breckon was interested in the financial impact for the school district.
Seymour said GilRan is asking for a 75 percent abatement of taxes for 20 years on Phase 1 which is the hotel that includes a restaurant, convention center, European spa, arcade waterpark, 60 condos and the rehabilitation of the golf course. GilRan estimates the value of Phase 1 at $45 million.
The packet distributed Tuesday evening shows the current Great River Road Golf Club pays a total of $8,957.26 in annual property taxes. Hamilton School District receives $4,964.36 of those property taxes.
Estimated total property taxes on the resort community for just Phase 1 development would be $1.3 million without abatement.
If the county taxing entities agree to the 20-year 75 percent abatement request, Hancock County would receive an estimated $376,051 annually from Phase 1 development. Hamilton School District's share would be $182,838 per year after abatement.
The difference between the projected abated taxes and the current annual property taxes received from the golf course, ($182,838 minus $4,964.36) equals $177,873.64 more to the school district even with the 20-year 75 percent abatement.
GilRan is also writing in its proposal to abate taxes at 20 percent for two years in Phase 2 and 10 percent for two years in Phase 3, if the income from Phase 1 is not at projected levels; i.e., if the developers need the money to continue building.
"Who will build this?" asked board member Craig Huls.
"We try to hire local contractors or sub-contractors," said Seymour. "If there are local contractors big enough. The hotel is a big project. But the homes and condominiums could be local contractors."
Board President Rusty Dowdall asked how many years GilRan has been in business.
"We're building our first resort now, near the Dells," said Seymour.
Jerry Baker, Hancock County economic/rural development director with the University of Illinois Extension, said the resort would be heavily marketed in large cities such as Chicago, Kansas City, St. Louis, Minneapolis, etc.
"We're looking at marketing through the business world, not the church world," said Baker.
The Hamilton School Board and the county supervisors Tuesday gave the concept a green light.
According to a timeline written by GilRan, a developer's contract about the tax abatement is scheduled for agreement in February to April 2004.
Construction on the project could begin in July 2004.
 |
 |
|
| Early flu bugs Tri-State Area | Ex-governor charged with racketeering |
Reader Comments
| Please log in or create an account by filling out the form on the right. | |
