KC to announce 800-room convention hotel downtown
KANSAS CITY (AP) - Kansas City leaders and development officials are announcing plans Monday for a $300 million, 800-room downtown convention center hotel.
The Kansas City Star reports that the city has been losing out on conventions because it lacked such a facility. Plans calls for the hotel to open in 2018 near Kansas City Convention Center's Grand Ballroom and the Kauffman Center for the Performing Arts.
The city is helping to finance the hotel under a deal that caps its obligation at roughly $2 million a year for 25 years. Kansas City Manager Troy Schulte called the deal a "cash model." The plan won't require the city to kick in more money if the hotel doesn't meet financial projections.
The hotel also would get other city and county tax incentives.
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