Thursday, February 13, 2020
KANSAS CITY STAYS LOSING MILLIONS ON CONVENTION HOTEL!!!
The money line is the most important item here . . .
"A series of deals the city struck years ago to get the Loews Kansas City Hotel built have taken officials by surprise as the costs from those agreements start coming online as work begins for next year’s budget.
"The city is staring at a $4.4 million shortfall because of a combination of a 2015 deal that awarded millions in payments and incentives to the 800-room convention center hotel and an agreement on catering fees for the city's convention center.
Mayor Quinton Lucas said money will need to be taken out of the general fund to cover the shortfall in the coming fiscal year, which starts in May."
More info for subscribers here . . .
KC Biz Journal: Lucas budget wrestles with costly convention hotel deals
Developing . . .