Fordson Hotel (formerly 21c Museum Hotel)

[bchris02]

You are right Pete. The view east will be even better once the new tower(s) are built. Personally, I think its not very forward thinking for them not to include a rooftop bar here. Is there anything that can persuade them to do it this late in the game?

[Pete]

I'm going to contact 21c and lobby them about this.

IMO, it's a pretty big deal and would be a great opportunity forever lost.

[DavidD_NorthOKC]

Green roof with a rooftop bar on the east end and maybe an aeroponic garden for their restaurant on the west? They sound like the type of business that would embrace this.

[metro]

My guess is the Hall family didn't want a rooftop bar.

[betts]

I know some of the Halls and they don't seem like the anti-rooftop bar type.

[bchris02]

Hopefully Pete can convince them. If not, maybe he can get a good reason they aren't going to do it from them.

[Pete]

More details on this project:

[Pete]

[Pete]

[Plutonic Panda]

Love it!

[Jeepnokc]

TripAdvisor released their Best of 2014. Under Hotels, the Bentonville 21C was listed #6
Top 25 Hotels in the United States - TripAdvisor Travelers? Choice Awards

[catcherinthewry]

This is going to be a very nice addition to the West side of DT.

[ljbab728]

City of Oklahoma City approves $6.9 million loan for 21C Museum Hotel development | NewsOK.com

The public assistance going toward redevelopment of downtown’s Fred Jones assembly plant into a 21C Museum Hotel grew by another $6.9 million Tuesday as the Oklahoma City Council approved a low-interest loan backed by federal funding.

There is little surprise about who was the only one voting no.

The council voted seven to one for the loan, with Meg Salyer not being present for the vote and Ed Shadid casting the lone "no" vote.

“I’m thinking this is more than $20 million in taxpayer funds going into it when you consider tax credits, the TIF (tax increment financing) grant, TIF loan and this,” Shadid said. “Is the best use of CDBG funds a hotel which we’ve already given many millions? Is it the best use of $7 million to give it to developers with deep pockets both locally and nationally?”

[ljbab728]

nm

[bchris02]

Awesome. This is really going to be one of the most game changing projects for downtown OKC.

[hoya]

City of Oklahoma City approves $6.9 million loan for 21C Museum Hotel development | NewsOK.com



There is little surprise about who was the only one voting no.

“I’m thinking this is more than $20 million in taxpayer funds going into it when you consider tax credits, the TIF (tax increment financing) grant, TIF loan and this,” Shadid said. “Is the best use of CDBG funds a hotel which we’ve already given many millions? Is it the best use of $7 million to give it to developers with deep pockets both locally and nationally?"

But it's not a gift. It's a loan. They have to pay it back. If it's backed by federal funds, then it's not even like it's local money. We're loaning someone else's money.

Ed is a retard.

[Jim Kyle]

Please!!! Don't malign the developmentally disabled. He's simply a demagogue, displaying his incompetence for the world to see -- and perhaps comments such as this should be reserved for the Politics sections anyway...

[hoya]

You're correct, as usual Jim. I shouldn't compare those with mental disabilities to Ed. It's not fair to the disabled.

[Pete]

Keep in mind that these funds come out of an allocation to the City and 21c and the Hall family had received $5.3 million it out-right grants and were already committed to this project.

It's hard to evaluate this use of limited resources without knowing the opportunity costs. For example, might this incentive be better applied to First National Center or a number of other projects that need assistance?


I know Shadid's objections often fall on deaf ears but we need more scrutiny and a bigger picture approach when it comes to dispensing public incentives.

[DoctorTaco]

Keep in mind that these funds come out of an allocation to the City and 21c and the Hall family had received $5.3 million it out-right grants and were already committed to this project.

It's hard to evaluate this use of limited resources without knowing the opportunity costs. For example, might this incentive be better applied to First National Center or a number of other projects that need assistance?


I know Shadid's objections often fall on deaf ears but we need more scrutiny and a bigger picture approach when it comes to dispensing public incentives.

Great point Pete.

[LakeEffect]

Keep in mind that these funds come out of an allocation to the City and 21c and the Hall family had received $5.3 million it out-right grants and were already committed to this project.

It's hard to evaluate this use of limited resources without knowing the opportunity costs. For example, might this incentive be better applied to First National Center or a number of other projects that need assistance?


I know Shadid's objections often fall on deaf ears but we need more scrutiny and a bigger picture approach when it comes to dispensing public incentives.

But do we know when, and if, First National Center would need such funds? Also, do we know how much funding is remaining in this program to lend out?

[Pete]

But do we know when, and if, First National Center would need such funds? Also, do we know how much funding is remaining in this program to lend out?

No and no, and it's pretty clear the City Council doesn't either know either, although they are the elected officials representing the citizens in this decision making process and of course, have final approval.

Also, why is this just coming up now and after a completely separate grant of OKC tax money was already approved and construction is set to start any time?

21c is very experienced in developing these old buildings and now suddenly they and the Hall family can't get financing?


Ed Shadid is right to ask questions about these programs. Any developer can claim need for these sort of incentives but it seems we are awarding them after they've already made their decisions.

Ed has also raised very valid points about giving millions to companies like Chesapeake for creating new jobs. It makes sense for companies that move to OKC but existing ones?? Hard to see the logic.

[Chadanth]

Keep in mind that these funds come out of an allocation to the City and 21c and the Hall family had received $5.3 million it out-right grants and were already committed to this project.

It's hard to evaluate this use of limited resources without knowing the opportunity costs. For example, might this incentive be better applied to First National Center or a number of other projects that need assistance?


I know Shadid's objections often fall on deaf ears but we need more scrutiny and a bigger picture approach when it comes to dispensing public incentives.

These things do need to be scrutinized. Why does every business or project need government (read: taxpayer) funding to be economically viable? They shouldn't, and that sort of funding should be only for historic or particular projects, and should be fairly hard to come by.

[soonerguru]

These things do need to be scrutinized. Why does every business or project need government (read: taxpayer) funding to be economically viable? They shouldn't, and that sort of funding should be only for historic or particular projects, and should be fairly hard to come by.

This is a historic project. This bldg has set empty for many years. And it's just an increase in the LOAN amount. And it is a loan for which the city will be repaid interest.

I hate plutocrats who act like capitalists begging at the city trough (and boy do these folks often rake welfare recipients over the coals). I also have a long-running distaste for this game.

And I agree this practice needs to be reined in, but Shadid is like the boy who cries wolf too many times. He treats this like a government handout when it is a short-term loan.

[Chadanth]

This is a historic project. This bldg has set empty for many years. And it's just an increase in the LOAN amount. And it is a loan for which the city will be repaid interest.

I hate plutocrats who act like capitalists begging at the city trough (and boy do these folks often rake welfare recipients over the coals). I also have a long-running distaste for this game.

And I agree this practice needs to be reined in, but Shadid is like the boy who cries wolf too many times. He treats this like a government handout when it is a short-term loan.

Well, I didn't vote for Shadid for Mayor, but it is always good to have a critic there to give differing views.

As for it not being a handout, how is the loan structured? Who is on the hook if the deal goes south?