By: Diane Benjamin
Follow-up to this story: https://blnnews.com/2019/07/30/hyatt-is-up-for-sale/
I’m sure any potential buyers of the Hyatt would know it hasn’t performed up to expectations.
Since this is public record, it’s fit to print. PDF page 159: http://www.normal.org/ArchiveCenter/ViewFile/Item/2672
The Hyatt wanted a tax rebate from Normal, but withdrew it before the meeting. Maybe since JB was running for governor he didn’t want to look like a loser.
Keep in mind, the Town of Normal borrowed $5.1 million to loan to the developer to build the Hyatt. Revenue generated from the hotel plus TIF money was supposed to pay the bond.
Maybe City Manager Reece can report on how much of that $5.1 million has been recouped.
This is what was withdrawn. See the minutes here to verify it was withdrawn: http://www.normal.org/ArchiveCenter/ViewFile/Item/2691
UPTOWN WHITE ELEPHANT!!
And no OTHER animals in the zoo!
Put ANOTHER way, it’s UPTOWNS version of the ARENA, BCPA, ETC..
I guess they STILL have #1 UPTOWN!! How’s that working mr koos???
So can we tear down this hotel too, once it goes empty and no one wants to buy it? It is going to be fun watching Mayor Little Man’s and Fuhrer Koos’ dreams get hit with wrecking balls.
No, it can be a public-private partnership 🙂
What a clusterf#$k.
Well Derek Bleigh follows in the tradition of Bunny Lunny. The Pantagraph just got this story at 5pm and it looks very much like the original posted here. They also got the smart asset story yesterday only about 10 days laetr than seen here. They are the turd of print media. It is getting so bad that to fill space they are cutting and pasting stories about Decatur from the Decatur paper. Pathetic..
So,you all think Koos will put this building on the historical register? Seriously , the taxpayers are again screwed! People told em and told em but King Koos , like his man love Renner, sees everything like the Emperor with no close on. My guess is Koos will do a public/private agreement and THEN tell the citizens and the council about it.