Kansas City things

[Phil Titola]

it's not like the design will stop people from staying at it, just that when you're putting together a 100 year building it would be nice to be forward thinking

Couldn't agree more.  Not only that, the design within the block is poor.  It turns it's back on the PAC and is a very subpar pedestrian experience on 16th...while the cool north side lobby stuff is pushed up against i670

[KCFDcat]

man, look at this, Clams and Phil getting along like regular pals.

[Phil Titola]

not sure what drove them to loser fest design but yes i am it was a financial decision.  i wish i knew more about our agreement with the developers, is that contract public?

the pessimist in me would say that they dumbed down the design in an effort to speed up their roi

I agree it was financial as the city didn't back their bonds and only gave them the land....so financing is tight.  I think all the pertinent points to the development agreement have been made public $5MM in land and the catering for the convention center...but the city manager may have more info.

I'm sure the dumbed down design was all about construction costs....sadly this is the design of many hotels this size in other cities....all gross.

I forgot about the $35MM the city is also giving this project...that money is coming in form of a bond that is backed from tourism taxes that are paid through hotel (7.5%) and restaurant (including booze) (2%) taxes. 

[pissclams]

-A $35 million cash contribution, which will actually cost about $2 million in convention and tourism taxes per year over a 25-year bond. The city has been spending that amount of money annually to retire debt on Kemper Arena, but that payment ends next year.

-City-owned land, valued at about $13 million, which covers about three-fourths of the hotel block. The developer must still acquire the rest from the American Hereford Association.

-Tax incentives valued at $80 million to $100 million over 30 years. The deal calls for capturing all new property, sales and earnings tax revenue generated by the hotel to help finance its development. Those incentives will be reviewed at a June 30 meeting.

-The hotel block would also collect and keep revenue from an additional 1-cent sales tax on the property.

-Exclusive catering rights for 15 years for events in the Bartle Hall Grand Ballroom. According to the memorandum of understanding, the value of that deal was estimated at $2.4 million to $5.4 million per year for 15 years.

[Phil Titola]

The positive thing KCMO did here was cement their cost for the project. There isn't a question about future performance impacting city budgets.

I don't have a problem with how they structured the financing but for what the city is doing, I think it needs to be a better designed project.

[mocat]

 

[Tobias]

damn, that sucks

[pissclams]

$35M ($50M) cash
$13M land
$90M TIF
$60M catering
$? $.01 sales tax

kcmo is funding +$200M of an ugly $310M hotel.  sad!

[star seed 7]

Probably won't even catch drinks at the Hyatt chode with mocat now

[michigancat]

Suck it, Indianapolis convention business

[kim carnes]

$35M ($50M) cash
$13M land
$90M TIF
$60M catering
$? $.01 sales tax

kcmo is funding +$200M of an ugly $310M hotel.  sad!

Wowzza

[Phil Titola]

$35M ($50M) cash
$13M land
$90M TIF
$60M catering
$? $.01 sales tax

kcmo is funding +$200M of an ugly $310M hotel.  sad!

The 90M TIF isn't money we are getting now. Can't count what you never had.  the 60M catering comes from convention center users they just have no vendor choice, this isn't unique in the industry ....The sales tax comes from people staying there...The city wouldn't get this sales tax revenue as it's on top of the established rates.

It's a horrible ugly design and making me turn against this thing even though I think it's important for the city (as I've seen how much money hospitality brings to this city and employs)....But I don't have problems with how the city has supported this project financially...I'm not a TIF hater though.

[pissclams]

you've refuted nothing i said, SAD!

[Phil Titola]

It's not my project, I'm not here to refute anything although I don't agree with counting non existent money as a cost to the city. That's dumb dumb logic.

[pissclams]

It's not my project, I'm not here to refute anything although I don't agree with counting non existent money as a cost to the city. That's dumb dumb logic.

no one said anything about a "cost to the city". you're pivoting, kellyanne.
i said we're funding over a third of the project.  seems desperate for a city with such promise.

[Phil Titola]

It's not my project, I'm not here to refute anything although I don't agree with counting non existent money as a cost to the city. That's dumb dumb logic.

no one said anything about a "cost to the city". you're pivoting, kellyanne.
i said we're funding over a third of the project.  seems desperate for a city with such promise.

Fair point I see what you are saying. How does it fall in line with other projects in other cities? I know Denver bonded the entire cost of their convention hotel....They have promise.

[Dugout DickStone]

They need to redesign that huge piece of poo

[KCFDcat]

The hotel is ugly, and if that's what ends up getting built I'll be pissed.

May have been covered here, but 'clams how do you feel about the GO bond?


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[420seriouscat69]

 

See that rooftop on top of the Baltimore building? Mrs. Wacky and I's first date started there and ended there. 

[pissclams]

anyone know what's going on in the KC BOE parking lot south of the building b/w oak and mcgee?

[Phil Titola]

anyone know what's going on in the KC BOE parking lot south of the building b/w oak and mcgee?

haven't heard of anything going in that lot....I think it's still owned by KCSD.

[pissclams]

the lot itself is gone, it's now all dirt, looks like they're digging there

there were actually two lots (east and west) that were evenly sized, half the building each and then directly south of them there was a larger lot that spanned b/w oak and mcgee

[Phil Titola]

interesting....can't find any permits for that location.  Gotta be something better than those ratty lots that were there.

[mocat]

you people that own houses: what is going on with my water bill

[Phil Titola]

Ghost water.

Thank prior generations who kicked water and sewer fixes down the road. We are paying for it now.