It shouldn't.

CoCS now sees an opportunity to buy a hotel in Conroe.

It's SE College Station, just outside the ETJ…. Not Conroe.

Conroe Convention Center and Hotel has $170 million in debt backed by the city. New appraisal puts its sales price at $22-23 million. That's what happens when cities start running businesses.

That could be a step in the right direction assuming the tenant covers all costs for renovations/buildout and having it leased doesn't prevent the city from selling it if an appropriate buyer comes along.

This is how it should go;

Tenant fronts the cash to make the required capital improvements to make it usable; in return, Tenant gets free rent equal to the amount of upfront money put into building. Then pays market rent thereafter.

The City should not put money into the building to attract a tenant. They should find a tenant to take that risk and reward them with free rent. I think that could make the best of this crappy situation and expose the City (Taxpayers) to the least risk.

Down the line, if the deferred maintenance has been resolved, and there's revenue from a tenant. The City will have no problem selling the property.

City Manager still needs to be fired over this huge mistake.

happyinBCS said:

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Mr. Yancy where are you ?

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We have some good movement on Macy's, as the mayor and city staff have publicly stated of late in the media.

I'm sorry I can't say anything, other than I think yall will be pleased; that if we can finalize it, it offers an ROI to the taxpayer; that I've run the numbers myself and asked for a fiscal target, and; that it appears we may have hit it.

I want to thank staff on this one. They've worked hard on it. I'm not absolving us of the original decision, but if we pull this down I warrant that I believe we've accomplished something.

Objectivity must reign. A good deal is a good deal. I think we're close to a good deal.

Fair? I hope so.

Respectfully and as Transparently as is possible at this time…

Yancy '95

Disclaimer: ANY deal can disintegrate for ANY reason at any time. I hope this doesn't, but it could.

Three words: Dicks Sporting Goods.
Make it happen. Plenty of parents are tired of driving to The Woodlands.