93 replies to this topic

[oldguystudent]

If it's going up on UNT property, will it be the first convention center in the nation with absolutely no designated outdoor smoking area?

[shaft]

As exciting as the public policy sub-debate is the numbers are wrong.
Denton pulls in $2 million dollars a month in taxable hotel revenue, that's something like $1.7 million a year in hotel occupancy taxes. So I'm betting Denton can pay the debt service on it's share of the convention center without tapping the General fund.

[Cooley]

I believe that the plan is to put a parking garage and academic buildings on the Fouts site.

There's enough land at Fouts for the hotel/convention center, mega parking garage and academic building. Additionally, a basketball practice facility. Overall, enough room for a nice size junior college. With a pedestrian bridge, the hotel makes more sense at Fouts.

[ntmeangreen11]

1. Build hotel & convention center
2. ???
3. Profit

[glick1980]

As exciting as the public policy sub-debate is the numbers are wrong.
Denton pulls in $2 million dollars a month in taxable hotel revenue, that's something like $1.7 million a year in hotel occupancy taxes. So I'm betting Denton can pay the debt service on it's share of the convention center without tapping the General fund.

As I wrote in a previous post, last year Denton had revenues over $1.5M in hotel/motel tax and expenditures of over $1.2M. They could pay it off with that if they scrap everything else they are doing.

[shaft]

The city doesn't have to carry the entire note, just the public portion of the project (the convention center). The city has 300k-500k room in the hotel/motel fund to carry the debt service on the public portion of the project. Plus the city will likely dedicate all the taxes generated from the project toward covering the project.

The project may even get an assist from the state legislature like the new CC in Amarillo is getting.
Point is this not break the bank and cause a property tax increase.

[Mark Gommesen]

If it's going up on UNT property, will it be the first convention center in the nation with absolutely no designated outdoor smoking area?

UNT will lease the property to an outside concern. As such, it will not technically be part of the campus. The lessee will establish the "smoking policy." Many public facilities including convention centers prohibit outdoor smoking.

[Mark Gommesen]

As I wrote in a previous post, last year Denton had revenues over $1.5M in hotel/motel tax and expenditures of over $1.2M. They could pay it off with that if they scrap everything else they are doing.

You are looking out the window on a Tuesday seeing that is raining and concluding that the picnic on Saturday has to be cancelled. The debt service is to be paid by FUTURE revenues. First if a developer builds a new 12 story, 300 room state of the art hotel it will generate a substantial increase in hotel revenues.. Second Denton is one of the fastest growing areas in the country again hotel tax revenues will increase. Third, the convention center will generate an increase hotel taxes from all the hotels n the city. Fifth will UNT and TWU continuing to grow resulting in an increase in hotel taxes. With UNT moving to the C-USA, there will be an increase in sports tourism that will increase hotel taxes. Sixth, the convention center itself is a revenue generator. The convention center generates rent income. Denton is located perfectly for DFW regional convention activity.

If you were to examine the current expenditure of 1.2 million, you would realize that much of that is directed to developing future projects to encourage tourism and economic activity including a convention center. Although, the total cost of this project is $85 million only a small portion of this project is the convention center. The twelve story hotel/restaurant will be financed by the O'rielly family. We're not talking about a huge amount of debt to be financed by the city. UNT gains lease revenues and use of the convention center.

The Hotel and Conference Center project will be a great revenue generator for the city of Denton. Many university meetings and events must be shuffled to other metroplex cities because Denton has no comparable hotel and meeting facilities. The new convention center will result in a huge cost savings for University meetings and events and provide new revenue opportunities for the University and the City.

It is extremely shortsighted not to realize the business that will "trickle down" to all merchants and service businesses in Denton. This is not to mention the boost to sales tax revenue. Any passed on costs will be far exceeded by the expansion of business that this project brings.

This a project that has joint participation with the city of Denton and UNT. The City will have a vested interest in the area west of I-35 on and near the UNT campus.

The City of Denton will have to widen bridges and access roads to Apogee and the west campus facilities as economic activity expands. The Hotel and Conference center project will result in other businesses locating near to the convention center and UNT sports venues.

Edited by Mark Gommesen, 09 June 2012 - 12:18 PM.

[kingwoodgreen]

if the convention center is to be built near the stadium then it would be great if this was taken into consideration as far as the layout. I think the "hill" area makes our pregame experiance rather unique. And having amenities that are condusive to the gameday atmosphere is a real plus for us attracting our fair weather fans. And that is what we have to a degree. I would like to see the design of the hotel/restuarant/bar be to where it is part of the stadium grounds to a degree. Certainly to where spending the weekend at the hotel and walking out to the tailgate experiance is a natural. Sure they would sell out the hotel on game weekends.

[Green Crazy]

1. Build hotel & convention center
2. ???
3. Profit

Well done, sir!

[shaft]

Mark G is going bit overboard on the sell job for a convention center.
I agree that the new hotel and convention center will be an economic boast. But saying it will create a cost savings because University and City events are booked somewhere else is a stretch. When was the last time you saw a UNT booked at the Lewisville convention center?

[THOR]

1. Build hotel & convention center
2. HOOKERS AND BLOW
3. Profit

i filled in the question marks...

Edited by THOR, 09 June 2012 - 05:06 PM.

[THOR]

Mark G is going bit overboard on the sell job for a convention center.
I agree that the new hotel and convention center will be an economic boast. But saying it will create a cost savings because University and City events are booked somewhere else is a stretch. When was the last time you saw a UNT booked at the Lewisville convention center?

but UNT isn't in lewisville...they are in denton...that makes a difference.

[97and03]

Mark G is going bit overboard on the sell job for a convention center.
I agree that the new hotel and convention center will be an economic boast. But saying it will create a cost savings because University and City events are booked somewhere else is a stretch. When was the last time you saw a UNT booked at the Lewisville convention center?

When I worked at UNT I booked a conference in Grapevine because there wasn't any other conference space in Denton other than UNT.

[shaft]

Did they have the gateway center yet?
I pm for the convention center and hotel. But I refuse to believe the school does so much convention business that it can't support it on campus.