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Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 9:13 am
by snigglefritz
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Do we know anything specific regarding the terms of their PSA with Drury?
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 9:14 am
by smh
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Are they exempt from city processes?
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 9:29 am
by loftguy
snigglefritz wrote: ↑Wed Aug 08, 2018 9:13 am
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Do we know anything specific regarding the terms of their PSA with Drury?
PSA...?
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 9:33 am
by loftguy
smh wrote: ↑Wed Aug 08, 2018 9:14 am
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Are they exempt from city processes?
No, the school district is not exempt, but what power does the city have, until or if, Drury or similar entity asks for favors?
The city can not prevent the demolition of the existing building.
The city can't refuse permits because the design is inappropriate.
However, the KCMOSD absolutely can refuse to sell to someone who proposes a plan that is not in the best interest of the city.
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 9:55 am
by snigglefritz
loftguy wrote: ↑Wed Aug 08, 2018 9:29 am
snigglefritz wrote: ↑Wed Aug 08, 2018 9:13 am
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Do we know anything specific regarding the terms of their PSA with Drury?
PSA...?
Sorry, Purchase/Sale Agreement. I didn't know if any of that information had come out that hinted at the school having some sort of deed/development restrictions as conditions to the sale. Regardless, those would still be subject to whatever applicable city processes.
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 10:26 am
by KCPowercat
loftguy wrote: ↑Wed Aug 08, 2018 9:33 am
smh wrote: ↑Wed Aug 08, 2018 9:14 am
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Are they exempt from city processes?
No, the school district is not exempt, but what power does the city have, until or if, Drury or similar entity asks for favors?
The city can not prevent the demolition of the existing building.
The city can't refuse permits because the design is inappropriate.
However, the KCMOSD absolutely can refuse to sell to someone who proposes a plan that is not in the best interest of the city.
What? The city can't refuse permits because of design? What is the point of CPC and neighborhood plans and overlay zoning?
Can't deny demo? How have we saved buildings in the past?
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 10:47 am
by smh
loftguy wrote: ↑Wed Aug 08, 2018 9:33 am
smh wrote: ↑Wed Aug 08, 2018 9:14 am
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Are they exempt from city processes?
No, the school district is not exempt, but what power does the city have, until or if, Drury or similar entity asks for favors?
The city can not prevent the demolition of the existing building.
The city can't refuse permits because the design is inappropriate.
However, the KCMOSD absolutely can refuse to sell to someone who proposes a plan that is not in the best interest of the city.
Good information. Just wanted to make sure there wasn't some loophole with KCMSD that I did know.
Re: Drury Plaza Hotel
Posted: Wed Aug 08, 2018 11:27 am
by alejandro46
loftguy wrote: ↑Wed Aug 08, 2018 9:33 am
smh wrote: ↑Wed Aug 08, 2018 9:14 am
loftguy wrote: ↑Wed Aug 08, 2018 8:49 am
The school district is the entity that appears to have control and power over the future use of this site.
Are they exempt from city processes?
No, the school district is not exempt, but what power does the city have, until or if, Drury or similar entity asks for favors?
The city can not prevent the demolition of the existing building.
The city can't refuse permits because the design is inappropriate.
However, the KCMOSD absolutely can refuse to sell to someone who proposes a plan that is not in the best interest of the city.
The City and applicable board can and should deny incentives for the project currently as proposed. I hope that the rendering is just as noted, a "cut and paste." The structure in Nashville looks 100x better and more dense. I would also want to see why they can't integrate parking into the structure in exchange for incentives too.
Re: Drury Plaza Hotel
Posted: Sun Aug 26, 2018 8:53 am
by DaveKCMO
Apparently the first Drury proposal was to remodel the building, then they came back with this.
Re: Drury Plaza Hotel
Posted: Mon Oct 22, 2018 3:24 pm
by flyingember
Officiall canceled not because it was a bad idea, didn't get enough incentives.
Re: Drury Plaza Hotel
Posted: Mon Oct 22, 2018 3:54 pm
by earthling
Hooray.
Re: Drury Plaza Hotel
Posted: Mon Oct 22, 2018 4:04 pm
by scooterj
Good. Wrong project for that spot.
Re: Drury Plaza Hotel
Posted: Mon Oct 22, 2018 4:29 pm
by KCPowercat
Crushing.
Re: Drury Plaza Hotel
Posted: Mon Oct 22, 2018 4:30 pm
by TheLastGentleman
I think this is the first time I've been relieved about a kc project getting cancled
Re: Drury Plaza Hotel
Posted: Tue Oct 23, 2018 11:36 am
by kcjak
So after spending $8.7 million on the property, what are the chances Drury holds on to it for a few years and does nothing with the current structure?
Re: Drury Plaza Hotel
Posted: Tue Oct 23, 2018 11:40 am
by snigglefritz
Did they officially close on the purchase piece? I thought I read somewhere that they had terminated the deal with the KCPS.
Re: Drury Plaza Hotel
Posted: Tue Oct 23, 2018 11:58 am
by kboish
Does anyone else see the irony in this?
School district owns an old, dilapidated building that is a financial liability and they want to sell it. The sale is only possible with the use of incentives that redirected taxes away from the school district. City (or whatever statutory agency) won't approve higher incentives causing the deal to fall apart. Talk about a role reversal. I wonder what lessons everyone is learning from this.
Re: Drury Plaza Hotel
Posted: Tue Oct 23, 2018 12:40 pm
by flyingember
kboish wrote: ↑Tue Oct 23, 2018 11:58 am
I wonder what lessons everyone is learning from this.
Don't come with lazy plans wanting incentives.
Re: Drury Plaza Hotel
Posted: Tue Oct 23, 2018 8:22 pm
by DaveKCMO
As part of its $8.7 million purchase agreement with the Kansas City School District for the vacant former Board of Education building, Drury had agreed to limit its property tax abatement request to 15 years: 75 percent for the first 10 years, 37.5 percent for the last five years.
SB Friedman however, recommended that property tax abatement be lowered further to 37.5 percent for the first 10 years and 18.8 percent for the following five years.
The developer also had requested reimbursing 50 percent of the incremental economic activity taxes (EATS) generated by the proposed hotel for 15 years, which include earnings and sales taxes, to help subsidize the project.
SB Friedman recommended a 25 percent EATS reimbursement during that period.
Drury also wanted a 100 percent reimbursement of a 1 percent community improvement district sales tax for 15 years and a sales tax exemption on construction materials. SB Friedman recommended both of those incentives be included.
After several months of negotiations, Drury decided to call it quits.
https://cityscenekc.com/drury-checks-ou ... own-hotel/
An adaptive reuse might attract a better incentive package, and possibly even affordable housing credits.
Re: Drury Plaza Hotel
Posted: Wed Oct 24, 2018 9:39 am
by im2kull
flyingember wrote: ↑Mon Oct 22, 2018 3:24 pm
Officiall canceled not because it was a bad idea, didn't get enough incentives.
Nothing worth building HAS to have incentives.
Nothing more than a cheap attempt to make some money. Drury needs far better planning and coordination than that if they want to survive..