Renner’s folly

By:  Diane Benjamin

Review of the downtown hotel timeline:

May 2015

Jeff Giebelhausen wants the City to pay $8.2 million for “shovel ready” land.  He wanted a fast answer – he claimed his option for the land had a time limit.

It failed to get support of the Council.

The proposal included tearing down the Front and Center building.  The public is told it’s impossible to reuse the building.

Feb 2016

Jeff Giebelhausen offers a new plan for $50 million featuring reuse of the Front and Center Building.  Obviously his option for the land didn’t expire as reported in 2015.  The May 31st deadline given by the Council for Giebelhausen to present the plan with financing wasn’t met.

July 2016

The plan falls apart because financing can not be obtained – at least that’s what the public was told.

    •  Giebelhausen is still representing the property owners.  The Huffs refinanced the CEFCU loan in March 2016 – it is due again in September 2016.
    • Giebelhausen claims the Huffs are in no hurry and options for the properties still exist.
    • Renner threatens to take the property by eminent domain for $1.2 million.  That’s far less than the CEFCU loan and taxpayers would then own the asbestos infested “fire hazard”.

The Huffs and CEFCU would fight in court.  Tari doesn’t have time before the next election to finalize taking the property.

It sounds like a big falling out between Renner, Giebelhausen, and the Huffs.

Will Renner saddle the next mayor with his folly?

Stay tuned.

Spending I know happened for Renner’s dream:

Source:

https://blnnews.com/2016/07/15/renners-downtown/

$30,000 for hotel feasibility study

$8,810 to Farr Associates

$51,091.95  to SB Friedman in 2016

$9,950 to SB Friedman in 2015

fried3and a free lunch:

fried4.

Staff time and legal isn’t included.  Creating the downtown Lighting/Streetscape Plan and Master Plan isn’t included either.

 

 

 

 

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Comments

  1. WOW! almost $100K for a “non hotel” We COULD have had a koala exhibit at the zoo-as everyone loves koalas! Heck, we could even have plated eucalyptus trees indoors for them. And had money left for maybe, say WOMBATS!

    Like

  2. The falling out between Mr. G and the Mayor is not surprising since they are similar in nature.
    http://mentalfloss.com/article/64193/7-fierce-facts-about-weasels

    Like

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