Omni Hotel

[_Kyle]

They are still trying to finalize the negotiations with Omni.

Assuming all goes well, they hope to start construction by the end of the year.

Great!

[OKCislife]

Will this building need a tower crane?

[Pete]

Will this building need a tower crane?

Yes, I'm sure it will.

[Laramie]

Any news on the Omni Convention Center hotel?

[Pete]

Any news on the Omni Convention Center hotel?

My understanding is they are still working on finalizing the financial package and public incentives.

[Pete]

Looks like the city is putting the finishing touches on the incentive plan for Omni and we should see the details in early to mid July.

[ChrisHayes]

I forget. What is the time frame that construction on the hotel would likely begin?

[KingOfTheNorth]

I forget. What is the time frame that construction on the hotel would likely begin?

We'd still have to get designs for the project in the first place, correct? So it would be at least two years away I would assume.

[kevin lee]

Construction was planned for a 2018 start date with a 2020 completion date. Unless things have changed I think everything is still on track.

[OKC_on_mines]

I really enjoy the conceptual design. A couple things I'd like to see included especially with public funding/funding; residential lofts/townhomes built into and around the hotel, and add a art gallery, internet café, or even a convenience store on the first floor just like the one in bricktown underneath the hotel.

[KingOfTheNorth]

^Keep in mind that it's conceptual. Will probably look completely different.

[OKC_on_mines]

^Keep in mind that it's conceptual. Will probably look completely different.

Good point. Landscaping and residential incorporated would satisfy my thirst here.

[stile99]

Your thirst will go unsated. The only place I've heard talk of any component of the convention hotel being residential is here, by people saying they wish it would happen. It's not happening, and of course Omni is going to want to keep the option of expansion open. I would also advise against holding your breath on the art gallery, but if you haven't explored the 'underground city' recently you might wish to check it out. Landscaping is planned, however, so there's that.

http://www.okctalk.com/content.php?r...nvention-hotel

[Pete]

The Omni should be very close to what was proposed.

It seems the only issues are around the incentives provided by the city, and you can bet they will be substantial.

[OKC_on_mines]

Your thirst will go unsated. The only place I've heard talk of any component of the convention hotel being residential is here, by people saying they wish it would happen. It's not happening, and of course Omni is going to want to keep the option of expansion open. I would also advise against holding your breath on the art gallery, but if you haven't explored the 'underground city' recently you might wish to check it out. Landscaping is planned, however, so there's that.

http://www.okctalk.com/content.php?r...nvention-hotel

Yeah I visited the underground mall a couple years ago and thoroughly enjoyed myself. The art on the walls present it as a sort of time capsule.

I love the art gallery in bricktown, its native themed with native artifacts, paintings, tools. We need more art galleries and internet café's/coffee shops. We have a couple but as more people move into the downtown area we will need more of it. Adding an art gallery and/or a corner store would make this area live.

[dankrutka]

Update: "City would pay $85 million for Omni hotel in proposed deal" http://newsok.com/article/5556353

[stile99]

Update: "City would pay $85 million for Omni hotel in proposed deal" http://newsok.com/article/5556353

Congrats to the Oklahoman on breaking this story!

Oh, wait...

http://www.okctalk.com/content.php?r...nvention-hotel

"On Tuesday, City Council will vote on a measure to proceed with the negotiation of approximately $85 million in public incentives for this project." - Published on 09-26-2016 04:38 AM

[Pete]

I'm trying to determine if the actual cost is higher than the $85.4 million because effectively the city has to provide that money to Omni up-front and before they sink a dime of their own money in.

I believe there are also interest costs because the city has to take out a bond against future tax collection through TIF and everything else.

Hope to get that clarified soon.


As a side note, this detailed plan just came out in the city council agenda that was posted in just the last hour, which means the Oklahoman was fed this story (with more detail in the agenda) far in advance by O'Connor & Co. Considering that the Alliance (which O'Connor heads) was formed specifically to keep items like this from public view until they desire to release them, it's troubling to me to see information disseminated this way. It shows favoritism to one news outlet and that seems highly inappropriate when dealing with matters concerning tens of millions of tax dollars.

[UnFrSaKn]

Hush, nobody has heard of this until now.

[Urbanized]

Congrats to the Oklahoman on breaking this story!

Oh, wait...

http://www.okctalk.com/content.php?r...nvention-hotel

"On Tuesday, City Council will vote on a measure to proceed with the negotiation of approximately $85 million in public incentives for this project." - Published on 09-26-2016 04:38 AM

Uh...I try to stay away from the OKCTalk/OPUBCO beef because I consider Pete my friend as do I consider Steve and a number of others at The Oklahoman. The whole thing pains me. That said, the line you posted was obviously not published by OKCTalk in September of 2016. That is the date of the original story, but obviously it was edited to include the new info. Not that there is anything wrong with that; just don't use it incorrectly to discredit other reporting.

-30-

[stile99]

I'll just leave this here then, it's post number 1343 in this very thread. That and the following couple posts have a number, and none of the posts indicate at this time that they have been edited.

http://www.okctalk.com/showthread.ph...035#post969035

[Pete]

Just talked to Cathy O'Connor and in addition to raising the point I just made about feeding this info to the Oklahoman on an exclusive basis (something that should and will likely change) she did confirm that the $85.4 million does not include interest on the bond.

When pressed, O'Connor said they don't have the final number yet but it will be in excess of $100 million.

So, that $100+ million is the true cost of this incentive project, not the net present value of what Omni is handed upfront (the $85.4 mm).


And on a further editorial note, this is why sources like to give preferential treatment to certain outlets. They know information will generally be published as presented to them without much in the way of further questioning (which is why Trump only gives interviews to Fox). The end result is that the truth suffers.

These incentives and allocations for the convention center and hotel keep creeping up and up and up... To the point that once you get over $100 mm for a hotel that they say is absolutely required (but never factored into the MAPS 3 funding) all the sudden starts to look much more questionable than $85 mm.

And honestly, it will be at least $100 million; who knows how much more.

[Pete]

As usual there is much more of a backstory to these matters so here's a bit more I now feel obligated to share...

I knew this exact dollar amount, the fact there would be additional and significant interest costs and pretty much everything outlined in that Oklahoman article.

I knew because O'Connor meets with the city council well in advance of something like this coming into the public. She does so in small groups as a loophole (IMO) to circumvent open meeting laws. I have spoken directly to the municipal counselor about this practice but it would take me suing them for anything to change, something at this point I am not willing to do, even though I have consulted with open meetings law expert who say that I would have a very strong case.

But, this happens on all such matters: O'Connor meets with the council members and although no binding vote is taken, every bit of detail in that article was revealed to them at that time, in a fully-formed package with all the detail work already completed.

However, the council is admonished not to share this information to the press. In fact, any documents passed out on those meetings are collected before adjouring.

So, what happens here? There is zero of this anywhere in the public domain and yet simultaneous with the posting of the council agenda for Tuesday (Friday is the last day that can be done) a fully detailed article is released by the Oklahoman where O'Connor has clearly provided what was absolutely not public info to the Oklahoman well in advance. AND the article contained more detail than was in the agenda.

So, you have the Alliance which specifically formed in a way that open records and meeting laws do no apply, and holds things away from the public eye as long as possible (which does not imply there is something nefarious) but then releasing in advance to one news outlet, after making others promise not to share that same information.


Much more to this but it's time to shine some light on these issues. And not coincidentally, the news organization benefiting from such an arrangement is not going to do it nor are they going to bother with probing questions such as the total real cost to taxpayers.

[Pete]

BTW, now told at 4% interest on the bonds the total cost would be close to $135 million.

That is way, way more than the reported $85.4 million.

[OKC_on_mines]

BTW, now told at 4% interest on the bonds the total cost would be close to $135 million.

That is way, way more than the reported $85.4 million.

This is utterly embarrassing. Why does it feel like we're being taken to the woodshed in these negotiations? Omni wasnt the only hotelier offering to provide the convention hotel? And with all this public funding we can't get more rooms (750) or any residential promised? Thanks for your hard work Pete.

I've been so elated with all the new developments and progress my city has made and is continuing to make but I have a bad taste in my mouth about this.