DN Subscriber -The County wouldn't be in the hotel business.
They would build the parking structure, which would be used by the public. They
would also expand the convention center. The hotel itself would be built with
private money.As has been reported in the past, there are 2
developers that want to build 1000+ room hotels for the convention center. They
are only requesting that the County pay for the parking which would be for
public use.These parking garages would cost between $20 Million and
$50 Million. These parking structures would be public in nature.Unfortunately, there are some that think that paying for parking means that
the County is getting into the hotel business. This however is not the case.
They are in the public business and public parking is within that per-view.Private developers see the profit to be made with the hotels. However,
they don't see the profit in building and operating a parking garage for
the public however. This is why a public/private partnership has
been requested for the hotels.Btw, if I had money to build the
hotels, I wouldn't want to pay for public parking just private.
People are always eager to spend other people's money.So, in
that spirit of benevolence, I invite Makid above to get a bunch of his friends
together to invest THEIR money making the huge investments in "1 or 2 1,000+
room hotels" and buying up downtown real estate to expand the Salt Palace.
Since that is such an obviously profitable good idea, I am sure he would be
filthy rich in under five years (three years for the hotels!).I
won't even ask for a share of his projected "profits" from his
idea.However, the taxpayers should not be in the hotel business
ever, at all, under any circumstances. Nor should they be stuck with expansion
of a convention center beyond its useful capacity to satisfy a single
customer.And, I predict that this year, just like last year and
every year I can remember, the Outdoor Retailers will whine about the size and
type of facilities and threaten to go elsewhere if other people do not pay for
their desires. Well, I'd like some free skis and a new bike
and camping gear, even though I don't want to pay for it.
The show brings in $40 Million a year and to keep them all we need to do is
spend less than 3 years worth of revenue from the shows?Why is this
a problem for people. The show would pay for anything that is needed with the
revenue it brings to the state. If the County built the hotel directly, it
would be less than 3 years to repay the cost. Increase the size of the Salt
Palace - 4 to 5 years to repay the costs. As the show grows, the revenue that
is received also grows.This is a big deal and some people will just
say that government shouldn't compete with business. Well, they already
compete with business for convention space and it brings in $40 Million a year
in revenue. If we get with a business partner to build 1 or 2 1000+ room
hotels, the costs would be less than 3 years worth of revenue, the business
sector would build and operate the hotels and revenue would increase again from
increased rooms for convention participants. We are at a decision
point. Keep/grow the $40 Million a year, or lose it because we are scared.