Candlelight Lodge Sale Worries County Officials
The county commission said it's against policy to give such a tax break, so Tapestry said Boone County should change the guidelines for tax-free bonds to meet the needs of a growing retirement-age community.
"I watched my parents go through retired and assisted living centers," said Gene Wilczewski of the Tapestry Group. "Do we forget these people who have worked here for 20, 30 years and now need our help?"
County policy limits tax incentives to projects that create jobs and increase economic development. The commission have scheduled meetings to review the policy, although it doesn't expect to make a decision for at least a couple of weeks.
"Where do we step in and provide tax incentives? My opinion is, government is a safety net in private market opportunities," said Northern District Commissioner Skip Elkin.
If Tapestry Group buys Candlelight Lodge, the first thing the new owners will work on is expansion.
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