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Originally Posted by Future Mayor
Some cities, like Denver as you pointed out, helped to finance a CCH with bonds and other mechanisms in order to help the developer offset the cost of the building. SL County has specifically stated over and over that the Tax Increment Financing (TIF) tool will be used to pay back the developer the cost that will be incurred to build the convention and parking space that will be part of the new CCH, not the rooms. The County will ultimately be paying for the convention and parking space and the County will operate/manage the new convention space and parking as part of the Salt Palace. Convention space that is desperately needed in order to attract some larger conventions and retain OR.
As I have mentioned several times before, without a direct connection to the Salt Palace it impossible for the County to operate, manage, and market the new convention space as part of the Salt Palace, because if it's not connected to the Salt Palace, and thus it's not part of the Salt Palace.
If all the County needed in order to say the Salt Palace had more square footage was have hotels with convention space nearby they could simply buy the convention space in the Marriott and the Raddison, and magically the Salt Palace just added over 35,000 square feet of convention space. But come on we all know that counting the meeting space in those two hotels doesn't add square footage to the Salt Palace.
But hey, if someone can explain how having convention space that isn't connected to the Salt Palace, adds more convention space to the Salt Palace I would be anxious to hear that.
So, if Dinwoody and Arrow Press were to be the location of the CCH and the expanded square footage of the Salt Palace convention space, it would make sense that it would have to have a tunnel under W. Temple.
One potential possibility would be for the developer to build the hotel on one of many sites surrounding the Salt Palace and then build convention space on the Royal Wood Plaza site. That would ultimately increase the overall cost to the developer because that then involves two sets of building plans, two foundations, acquiring more parcels, additional meeting space and parking in the hotel only, rather than a shared agreement with the SP space. I really don't see the developer going in that direction, does anyone else? Once again why the RWP site makes the most sense. Plenty of space for Salt Palace expansion, with a direct connection to existing expo space, plenty of space for a tall, or wide, or two hotel towers, with room for additional convention space in the future.
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The city, county, and state are paying for land acquisition, infrusture and the convention space in the hotel. This is not marketed as an addition to the convention center. We are using public funds to help make SLC a better convention destination. The convention space in the hotel will not be managed by the city, though it will certainly be in the interest of the private hotel to be synergistic with the convention center and if it fails to accomadate a certain amount of conventions it will lose out on payments of the incentive money. This whole thing is about proximity and built in convention space (like Denver's cch and the future Portland cch). While I don't doubt that there may be additions to convention centers where they slap on a hotel and call it a convention center hotel, that has never been the assertion in any of the SLC plans. It keeps sounding pretty much like Denver and Portland for us.
I can't find any info where SLC has agreed to administer over any actual functions of the hotel, parking, or convention space within the hotel beyond approval of the location and design. Literally it looks like they will price into their $100 million dollar combined state, county, and city incentive all the costs for the private developer to acquire the land, build the parking, and convention space. That's it. You approach a private developer and say, "hey we think these hardships should be covered by $100 million dollars, so please build all this stuff we want and do what you are supposed to on your own and we will pay you incrementally each year until you make all $100 million." SLC dumped $20.4 million into the building of the Delta Center, they don't administer or own any part of the Delta Center. That's how private subsidies work. This really isn't too different from giving Adobe tax breaks to build their offices in Utah...
Quote:
Originally Posted by jtrent77
Hey! my name begins with a lower case j. 
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Shhhh, no more tears... Only dreams now.