Sponsor
In April 2017, Dr. James J. Naples purchased Texarkana Hotels LLC from Hiren Patel for $6.55 million. At the time, the company was in danger of foreclosure for unpaid loans.
Naples was granted annual payments of $84,800 from the Texarkana, Arkansas Advertising and Promotion Commission, less than the $150,000 Patel was receiving annually from 2011 to 2017.
An order was signed and prepared on September 19, 2017 granting motion for reconsideration and now all tax benefits will convey. Any monies that have not been paid up to date are now due and the original agreement established between the Texarkana, Arkansas A&P is now instated and will continue for 15 years.
