No TIF Motel

[Wake up]

Billy Bob wrote:

Chester needs a hotel that provides you with a lot of cheap women and expensive booze!

Sounds like someone has memories of the Grandview.

[Wake up]

I think Chester's greatest need right now is a new four lane bridge. Only way that happens is if everyone pulls together. We're talking massive effort level.

I'm not even sure we have the space with the current location of the Welcome Center.

[Roger]

Reality wrote:

<quoted text>How is that big project coming along? Should have the building up by now.

people are working there take a drive and see.

[LSMFT_CP]

Hey Roger, what's the latest on the Hotel.

Locals are really tired of that eye sore sitting there, if your not going to do anything with the property have James clean it up .

[LSMFT_CP]

Don't known whats happening at the old Hi 3 motel but there is a piece of big equipment sitting in the drive. Track Hoe / Back Hoe some kind of hoe... I haven't seen one there in years LOL.

Some thing is going on ?

[Roger]

LSMFT_CP wrote:

Don't known whats happening at the old Hi 3 motel but there is a piece of big equipment sitting in the drive. Track Hoe / Back Hoe some kind of hoe... I haven't seen one there in years LOL.
Some thing is going on ?

Do the Math baby, She is coming down this week!!

[Ship of Fools]

I just wish the developers would use their own private capital, not the future tax revenues we will never as a city have the revenue growth to make up. I'm not opposed to the idea of more development. I just believe that when people look at the historical legacy of the failures of TIF everywhere, that people will move away from using it. Just look at Chicago's use of TIF. They have diverted $1.6 billion of tax revenues for $300 million of economic growth. That is simply not a ratio that is productive for development.

[Roger]

Ship of Fools wrote:

I just wish the developers would use their own private capital, not the future tax revenues we will never as a city have the revenue growth to make up. I'm not opposed to the idea of more development. I just believe that when people look at the historical legacy of the failures of TIF everywhere, that people will move away from using it. Just look at Chicago's use of TIF. They have diverted $1.6 billion of tax revenues for $300 million of economic growth. That is simply not a ratio that is productive for development.

I do not know if you figures are accurate. But, let’s say they are. 300 million in growth in “Chicago” proper IE: The City Limits. Using you numbers after the tif is over during the next 23 years the schools in Chicago will receive over ½ of a billion dollars. That is money that would NEVER have came to Chicago. In addition have you been to Chicago Land recently, because of the growth the surrounding areas are booming. Why is it that Forbs magazine had a story on Perryville Mo this month, It’s because of growth. Growth that was created with tax and state incentives. The City does not have to give us the TIF, We would like to have the additional funding to build a High Quality hotel, if in their wisdom they do not we will build a Hotel. It will not have the amenities that the larger one would have nor will it garner the same type of rates. We will be open in the next year.

[Cindy]

I for one, am glad the work has begun. I cant wait for a new business to give Reids a run for their money.

[Really]

It will put them out of business! Is that what you want for our local businesses??? How would you react if the city was trying to destroy your business??? Jeez, these comments are getting dumber by the minute!

[Roger]

Cindy wrote:

I for one, am glad the work has begun. I cant wait for a new business to give Reids a run for their money.

thank you,

[Roger]

Really wrote:

It will put them out of business! Is that what you want for our local businesses??? How would you react if the city was trying to destroy your business??? Jeez, these comments are getting dumber by the minute!

Your right the smaller hotel with out the TIF will have much lower rates than Reids. We have warned people about this but no one listens. the hotel with the TIF will have rates in line with Reids thus be better for Chester. But business is Business and we will build.

[LSMFT_CP]

Roger wrote:

<quoted text>Your right the smaller hotel with out the TIF will have much lower rates than Reids. We have warned people about this but no one listens. the hotel with the TIF will have rates in line with Reids thus be better for Chester. But business is Business and we will build.

That's correct business is busines and people in the USA have the oppertunity to do just that, a motel, another grocery store, another salon, gas station, hardware store...the list goes on and on. The city set the tif up and if these people play by the rules, that all we can ask.

[Really]

The city needs to be wiser about what to use the TIF for. If the results in the study says it won't work, then the city should have listened. The decision for the hotel with TIF will not benefit the city of Chester and making a decision that's best for Chester is their jobs. We will be lucky if we have at least 1 surviving hotel because of this. Disappointing and Irresponsible on their part.

[Roger]

Really wrote:

The city needs to be wiser about what to use the TIF for. If the results in the study says it won't work, then the city should have listened. The decision for the hotel with TIF will not benefit the city of Chester and making a decision that's best for Chester is their jobs. We will be lucky if we have at least 1 surviving hotel because of this. Disappointing and Irresponsible on their part.

let me ask you somthing. if you owned a taco stand and you sold your tacos for $1.00 and another business wanted to build in a part of town that needed developemnet and they were going to sell tacos for a $1.00 but they get some of their tax money back beacuse they are building a certain size building. Or with no tax help they are going to build a smaller building that they can then afford to sell their tacos at .40 or .50 Cents. What one would you rather be in compatition with. Its the same here we can build the big nice hotel and charge around the same rates as the Best Western or be build the Motel 6 type hotel that will rent rooms at $29.00 to $39.00 per night. we are building. The option now is with the city.

[Ship of Fools]

Why is it the job of the city to subsidize competition? That never works in the long run. I don't blame a business for trying but I do blame the city for not rejecting this plan. If the only hotel that can pop up without the TIF is a Motel 6, fine. That will be what the economic climate develops. However, TIF is corrupted everywhere. It's a way for big businesses to use tax money to kill small ones. That's not right. Just look at the Wikipedia article on TIF.

By the way, Chicago lost $1.3 billion because of TIF. That's $1.3 billion they lost due to the TIF. Those accounting figures I cited? It only generated $300 million for $1.6 billion in debt. Chester doesn't need to take any debt on at all.

[Really]

Ship of Fools wrote:

Why is it the job of the city to subsidize competition? That never works in the long run. I don't blame a business for trying but I do blame the city for not rejecting this plan. If the only hotel that can pop up without the TIF is a Motel 6, fine. That will be what the economic climate develops. However, TIF is corrupted everywhere. It's a way for big businesses to use tax money to kill small ones. That's not right. Just look at the Wikipedia article on TIF.
By the way, Chicago lost $1.3 billion because of TIF. That's $1.3 billion they lost due to the TIF. Those accounting figures I cited? It only generated $300 million for $1.6 billion in debt. Chester doesn't need to take any debt on at all.

Well Said.

[Nossey]

Watched Andy Griffin show this week where he helped a man set up a store front across the street from a real store. The real store owner wanted Andy to get rid of the store front. It sure reminded me of the TIF situation here in Chester. Ended up the rich store owner bought out the store front guy. Wonder how Chester is going to end up?

[LSMFT_CP]

It's coming down today

[Roger]

LSMFT_CP wrote:

It's coming down today

I thought it was set for Wednesday, Iwas wrong, it is set for today. Roger