NOLA World Trade Center set to become Four Seasons

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Hartmann: Hotel Alessandra offering $23 million at lease signing, upfront

Oxford -- $5 million at least signing

HRI -- $500,000 at lease signing, but pay $10 million upfront rent after financial closing.

Four Seasons -- $5 million upfront, most of that would be escrowed after financing.

Conrad -- $10 million at lease signing

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Upfront nonrefundable lease deposit will act as a gauge of how confident the developer is in obtaining their financing "and how much they're willing to risk," Scott Whittaker said.

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Total fixed rent payment to the New Orleans Building Corp. in present value

Conrad $102. 6 million

Four Seasons: $58.4 million

HRI Crescent: $87.3 million

Oxford Godfrey: $103.1 million

Alessandra: $94.8 million

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The city could borrow against a lease and get same result as getting direct upfront lump payment.

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Scott Whittaker notes that the lowest offer from this group is more than five times what Gatehouse offered when selected in last failed World Trade Center selection process.

Andy Koppling, deputy mayor, said the city made the right choice in stopping negotiations with Gatehouse and starting over, even there was "a lot of concern and consternation" about that choice from some in the city.

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It is a 99 year lease

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Total New Orleans Building Corp. potential income in net present value.

Alessandra: $165.6 million

Oxford-Godfrey: $119.8 million (doesn't have attraction)

HRI: $123 million

Four Seasons: $63.4 million

Conrad: $113 million

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Andy Kopplin brings up the attractions. HRI's is inside the building. Two Canal Street Investors is outside, where ferry terminal is presently, on Transportation Department property.

Kopplin said the Conrad hotel's larger proposals for more riverfront property development was discounted as outside the RFP. Why aren't we doing that as well with the Tricentennial Tower in the Alessandra proposal?

Whittaker: The financial projections did not take into consideration the legal issue you're raising. As legal counsel, I would say it's very appropriate for the committee to discount the tower in its analysis.

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Hartmann said, in terms of total city potential economic benefit, combination of rent and tax benefits

Conrad: $356 million

Four Seasons: $405 million

HRI: $302 million

Oxford Godfrey: $331 million

Alessandra: $446 million (That does include the observation tower attraction income)

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When including the state tax revenues
Conrad: $506 million

Four Seasons: $604 million

HRI: $372 million

Oxford: $455 million

Alessandra: $625 million

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Third analysis -- only fixed rents to New Orleans Building Corp. (so no attraction or percentage rents, the more speculative income) combined with tax revenues:

Conrad: $347 million

Four Seasons: $400 million

HRI: $266 million

Oxford: $315 million

Alessandra: $375 million

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