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 . . .
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 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 . . .