Wednesday, November 29, 2017

CELEBRATE!!! KANSAS CITY PREPARES TO GIVE MIKE BURKE & CO. $35-MILLION+ BASED MOSTLY ON DRAWINGS OF DOWNTOWN CONVENTION HOTEL!!!



More follow-up coverage regarding a meeting that our blog community reported earlier this week . . .

KANSAS CITY PREPS FUNDING FOR THE NEW DOWNTOWN CONVENTION HOTEL WITH ALMOST NO DISCLOSURE OF THE FINANCING SCHEME!!!

What we do know is that previous reports about this gentleman's agreement revealed City Hall was handing over $35-MILLION to start and then financing this thing to the tune of about $135-MILLION . . . Now, Loew's will pick up some of the slack as they walk into a sweetheart deal that was won with nothing more than political connections and NO PUBLIC VOTE.

On the bright side, groundbreaking on this deal has been delayed at least 3 times previously.

Read more . . .

Loews convention hotel advances as KC agency finalizes financials - Kansas City Business Journal

Attorneys are scrambling to finalize the hundreds of pages of documents that the Land Clearance for Redevelopment Authority approved Wednesday. The documents must be finalized by Dec. 6 if the hotel developers hope to stick to their goal of completing several simultaneous financial closings in December.


After 7 Years, January Groundbreaking Set For Kansas City Convention Hotel

After seven years of discussion and planning, construction of a 24-story, 800-room downtown convention hotel in Kansas City is expected to begin Jan. 2 following approvals of key documents Wednesday. A thick stack of financing and property transfer documents necessary for the $322.7 million Loews Kansas City Convention Center Hotel project was approved unanimously by the Land Clearance for Redevelopment Authority.


You decide . . .

7 Comments:

Anonymous said...

Four Star Hotel?
I thought Loews was going to run it?
Ever stay in one of their joints?

Anonymous said...

^^^ LOL!

Anonymous said...

I have in Hollywood. All the time. It’s four stars.

Anonymous said...

This is a total FRAUD!! Show me the money! No way they are putting in $60 Million, and no way the City Taxpayers are only putting in $35 million. Wait till the City has to pick up interest payments! This hotel will cost KCMO taxpayers $100s of Millions!!

Byron Funkhouser said...

I don't believe a person who lives in Kansas City goes to Hollywood "all the time".

Why don't you live there?

Anonymous said...

It's called work Byron. Try it some time

Anonymous said...

Good one. Byron got served!!!!!!