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re: Watchdog group in New Orleans says Convention Center hotel will cost taxpayers $800m
Posted on 4/10/20 at 4:35 pm to sand mountainDvalues
Posted on 4/10/20 at 4:35 pm to sand mountainDvalues
quote:I think they should hit the pause button on this project, but convention center hotels are generally subsidized by government - even in the "Great State of Texas". There are countless other examples.
Houston’s convention agency is poised to grant developers subsidies worth more than a third of the cost of a proposed luxury hotel atop its downtown headquarters, contrary to the original vision for the hotel and in contrast with industry norms, experts said.
The Houston First Corp. board on Thursday will consider whether to offer the developers of a proposed W Hotel its portion of an estimated $43 million in subsidies over 16 years. If that agency approves, the deal would go to Houston City Council, which would decide whether to grant the project property, sales and beverage tax breaks.
LINK
This post was edited on 4/10/20 at 4:40 pm
0
Posted on 4/10/20 at 4:37 pm to I B Freeman
quote:
Taxpayers should not be made to do this.
I haven’t read this particular article but the 800m is primarily waived property taxes for 40 years on a property not otherwise producing much income right? It’s not handing the company tax dollars
Posted on 4/10/20 at 4:38 pm to SPEEDY
NOLA, the gift that just keeps on giving.
Posted on 4/10/20 at 4:39 pm to sand mountainDvalues
quote:You ought to see it from the inside...
Louisiana is hilarious from the outside looking in
Posted on 4/10/20 at 4:49 pm to SPEEDY
OP:
OP’s Link:
quote:
Watchdog group in New Orleans says Convention Center hotel will cost taxpayers $800m
OP’s Link:
quote:
Drums, dancers livestream as coronavirus moves powwows online
Posted on 4/10/20 at 4:51 pm to SPEEDY
Once again, the majority that vote Democrat won't have to pay for it.
Neat.
Neat.
Posted on 4/10/20 at 6:45 pm to SPEEDY
$800 million in taxpayer support will be needed over 40 years in order to build the hotel adjacent to the riverfront facility.
800 million could go to a new riverfront stadium for the saints and still have some change left.
But seriously, any project of that magnitude needs to hit the pause button.
We are moving to a new normal. No telling how long Social isolation will be the rule of the day. Even with most orders are lifted, how many people will be willing to go back into crowded or unfamiliar areas.
800 million could go to a new riverfront stadium for the saints and still have some change left.
But seriously, any project of that magnitude needs to hit the pause button.
We are moving to a new normal. No telling how long Social isolation will be the rule of the day. Even with most orders are lifted, how many people will be willing to go back into crowded or unfamiliar areas.
Posted on 4/10/20 at 6:55 pm to SPEEDY
Just waiting on FEMA/Federal dollars
Posted on 4/10/20 at 7:23 pm to SPEEDY
Ghana be full of bums by weeks end.
Posted on 4/10/20 at 7:41 pm to johnnyrocket
(no message)
This post was edited on 9/30/20 at 6:59 pm
Posted on 4/10/20 at 7:57 pm to sand mountainDvalues
It’s funny from the inside as well. It’s actually sad I guess is a better word.
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