TKC TOLD YOU SO!!! CONTROVERSIAL DOWNTOWN KANSAS CITY CONVENTION HOTEL STRUGGLES TO FIND INVESTORS!!!
City Hall subsidy of this project was rammed through by the last council with ABSOLUTELY NO INPUT FROM VOTERS and was the subject of petition and courtroom threats.
Now . . .
KANSAS CITY INSIDERS NOTE VERY LITTLE ACTIVITY ON THE NEW HOTEL AND NO WORD OF NEW IINVESTORS TAKING ON THE PROJECT . . . JUST LIKE OUR TKC BLOG COMMUNITY SAID: THE PROJECT STAYS LOSING!!!
At the end of last year OUR BLOG COMMUNITY TOLD YOU the deal was crumbling.
Now, here's just a bit of confirmation from TV news . . .
KSHB: Developers need money for downtown convention center hotel
Despite the victory, there has been no movement on the future building site.
City Manager Troy Schulte said development plans are still in the works. The developer is working to raise more money.
"At this point all the agreements with the city have been signed. They are working on their private financing," Schulte said.
The city is investing roughly $100 million in public dollars in the project, including $35 million in cash. The developer has to come up with $200 million in private funds. They're aiming for an October closing.
"The private folks are convinced they can pull the financing together; if they don’t, no deal. The city is not going to step in behind this deal no more than we have," Schulte said.
You decide . . .