Thursday, March 26, 2009

Hotels and Halfway Houses

The QCTimes has a few articles of interest today.

Construction continues on new halfway house -QCTimes
This thing is going up quickly, but I haven't seen any images of what it is going to look like when its done. There could be one in the print edition of the Times, which I haven't seen. It will be nice for the parole and probation officers to walk down hallways that don't feel like they're about to collapse.

Davenport OKs sale of bonds for Blackhawk Hotel restoration
-QCTimes
Another step in the long process of getting the Blackhawk back to its former glory. The 30 luxury apartments are going to be rented in no time.

Confusion, money problems plague Riverside Plaza Hotel in Davenport -QCTimes
The comments from the fire chief are pretty interesting in this article. This hotel just needs someone willing to do more than a halfway job on bringing it up to date.

6 Comments:

At 3/26/2009 10:49 AM, Anonymous Anonymous said...

Another day of pin the tail on the Davenport taxpayer.

 
At 3/27/2009 9:34 AM, Anonymous Anonymous said...

How do you figure?

It's Wells Fargo's loss, for being overly skittish regarding lending (like many, many banks now across the country).

Davenport was going to simply be the conduit for the loan, which will be re-paid from the state tax credits, and Wells Fargo was going to collect the interest from RSL. However, when Wells demanded that Davenport back the loan with its full-faith-and-credit - rather than the state, which is providing the revenue with which the loan will be repaid - the city leaders WISELY decided that if they were going to be the backer, the city should reap the interest profit.

So, in actuality, as long as the state doesn't renege on the tax credits (highly unlikely, as this is Iowa not Illinois), Davenport taxpayers stand to GAIN from the deal - in the form of interest payments.

Sorry to ruin your ill-informed rant.

 
At 3/27/2009 1:44 PM, Anonymous Anonymous said...

NICE post "9:34." That was written so perfectly, I don't think I can even add to your point.

Well done!

 
At 3/30/2009 10:56 AM, Anonymous Anonymous said...

Understand Gluba is going to have our fair city renamed Dubiaport if the Sauds will fund Davenport Promise. Rah, rah, take that againsters.

 
At 3/30/2009 11:46 AM, Anonymous Anonymous said...

Why would the Saudis want to rename Davenport after a city in a third country?

 
At 3/30/2009 5:10 PM, Blogger QuadCityImages said...

Don't try using facts against the negative folks; they're immune.

 

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