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Denton City Council weighing new deal for convention center


Harry

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A new deal to bring a convention center to Denton has less risk for local taxpayers than the old one, but the developer still has asked for the city to give back the taxes the convention business would generate in exchange for the other business the project would bring to town.

Tim O’Reilly, who heads O’Reilly Hospitality Management in Springfield, Missouri, told the City Council earlier this year he and his investors remain bullish on building in Denton. After community support fizzled for a city-owned convention center last year, O’Reilly proposed to build the convention center privately. Instead of building on land next to the University of North Texas’ Apogee Stadium, the project is planned a little farther north on Interstate 35, at the southwest end of the Rayzor Ranch development.

The private investment includes about $5 million in public infrastructure, according to city documents.

In exchange for that private investment — and the new business the project would bring to Denton — O’Reilly has asked the city to rebate all the taxes collected with the project for the first 25 years. As current negotiations stand, the maximum amount O’Reilly would get back from sales, property and hotel occupancy taxes there would be $54 million, said Assistant City Manager Jon Fortune.

read more: http://www.dentonrc.com/local-news/local-news-headlines/20151107-developer-asks-for-taxes-back.ece

 

Edited by Harry
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It's anchored by HEB, WinCo Foods and a Cinemark. The developer used Great Clips as an attraction to development. It won't be completed for 20 years (seriously). It's the next Stonehill. It's not high end, and Denton isn't going to support this kinda thing. I wish it would actually have been done right.

Judging by your development timeline, it could very well turn out to be the next Stonehenge!

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Need to think about a top level hotel. Any team and fans going to the game in Denton stay somewhere else outside of Denton. This is a missed revenue opportunity for the city and community.

you got that right. I live out of town and try to make at least one game a year. We have stayed at the hotel on the golf course near alliance, because our other choices were the desert sands or the clayton house. I love Denton, but I would much rather stay in a nice hotel when I visit.

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With people the people running city council do you really expect anything to be a success?

I love it when the ignorant unwittingly identify themselves.

The present Denton City Council is the most development-minded perhaps in the town's history. They're also just smart about it; the original deal, financing, and overall outlook of the convention center's first proposal became toxic realllllly fast. They were right to say no then.

Now? We'll see. I too want a quality hotel and convention center in town, but it has to be structured to best serve Denton now, 10 years from now, and 30 years from now.

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