Sept. 24, 2013
The redistribution of wealth is alive and well in the Upstate .
At the September 17th Oconee County Council meeting, the council voted 4 to 1 to extend a 20-year, $50,000 a year tax credit to Serene Hospitality, LLC, owner and developer of a Hampton Inn hotel located in Seneca. The council also granted the company a FILOT (fee in lieu of tax) agreement. All this for a $10 million investment.
Let’s back up to the beginning of this deal.
Sanjay Desai, owner/member of Serene Hospitality, LLC, held a 30 percent membership interest in Clemson Grande Lakefront Condominiums, LLC. In 2007 that company purchased the Lake Hartwell Inn property in the City of Clemson to build the Clemson Grande Lakefront Condominiums. The project was never built. The corporation had a contentious relationship with the City of Clemson, with city officials urging the corporation to clean up the site and progress with construction – to no avail. Four years later and construction not even started, the corporation filed for Chapter 11 and on November 11, 2011 the bankruptcy order was filed, leaving a long list of creditors in its wake.
By April 25, 2012, Sanjay Desai, had formed a new corporation in the name of Serene Hospitality, LLC, and by June 25, 2012 had secured $1 million in public funds from Oconee County, and another $1 million in public funds from the City of Seneca. By September 26, 2012, funds were deposited into a bank account for Serene Hospitality, LLC to use to pay construction bills on the Hampton Inn being constructed within Seneca.
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