Thursday, December 09, 2010

Standard-Examiner: Ogden OKs $9M Bond for Hilton Construction

Lets all keep our fingers crossed that Garn is in better financial shape than Gadi Leshem

The Standard-Examiner finally gets around to providing a writeup on the outcome of the bond approval issues which were on Tuesday night's Council agenda, with this morning story which reports that the council approved "$9 million in facility bonds to help finance construction of a four-story Hilton Garden Inn Hotel at The Junction development downtown." Mr. Schwebke also reports that a vote on the the $2.8 million in special assessment bonds has been scheduled for next Tuesday (December 14), and that a decision whether to issue up to $3 million in tax increment bonds has been set for Dec. 21:
Ogden OKs $9M bond for Hilton construction
It looks like Mr. Garn's Junction Hotel is a fait accompli, as the council jumps through all the formal public notice hoops, and increases the taxpayers' indebtedness by another $16 mil.

Mr. Schwebke carefully notes that "Garn will be responsible for repaying the facility bonds." With that in mind, lets all keep our fingers crossed that when the smoke clears on all this that Garn turns out to be in better financial shape than former Godfrey Moneyman, Gadi Leshem.

And to existing hotel operators like Susan Cross, assistant manager of Ogden’s Comfort Suites Hotel, who warned that " Ogden is not ready for an additional 125 rooms" ...

Tough Luck!

What the evil Boss Godfrey wants, Evil Boss Godfrey gets.


I know way too much about Ogden said...

Just a heads up for anyone that give a hoot. The new apartment buildings on the other side of moroni from the junction. They have underground parking. They had to lower the water table under ogden city by pumping 24/7 for months before they could set foundation. That building now has pumps running constantly. A malfunction would flood the garage. And Ogden wants to do this? Who's the engineer taking that responsibility?


"Who's the engineer taking that responsibility?"

Boss Godfrey, that's who.

Ozboy said...

Does any one know what these agreements really say as to who, or what entity, is ultimately responsible for all this new debt in the worst case scenario?

In other words, if it all goes to hell like most everything else Godfrey, who has to pay the debt in the end?

And thirdly, why do I keep thinking of the old saying: "When you find yourself in a big hole, the first thing you do is quit digging!"

Ozboy said...

Awesome Ozboy comment jumped to front page

Help a sex pervert, screw the taxpayers said...

I wonder if there will be a Hot Tub in the Gondola Station at the New Hotel.

Irene said...

What logic could possibly prevail that would show that Ogden can support another hotel in down town when the several that are there now are struggling with low occupancy rates?

The old saw that says "build it and they will come" has been proven to not work in down town Ogden by the Junction, and I cannot see how going deeper into debt with these two new proposed projects is going to change that basic equation in any way.

Something dreadfully wrong seems to be going on in Ogden's city government with these seemingly endless expensive project that are rushed through the process and end up costing the people so much money for so little good result.

what will it cost us said...

They can bond $9M for a private enterprise, but have to have the highest water rates in the state to pay for sewers and water storage. $9M would go a long way for new fire trucks and maybe a few more police positions.

When will the city council demand an independent audit of all of the city departments and where the cash comes from for the mayors behind closed doors projects or cost over runs.

When does the city go back to just providing services, police, fire, trash, water and sewer, rather than help developers on the taxpayers back.

The Ogden Council Sucks said...

"When will the city council demand an independent audit of all of the city departments and where the cash comes from for the mayors behind closed doors projects or cost over runs[?]"

This will never happen, as we now have the flat out dumbest City Council since 2005.

sex perverts thrive in ogden said...

"I wonder if there will be a Hot Tub in the Gondola Station at the New Hotel."

Excuse me,Help a sex pervert, screw the taxpayers

It goes without saying that Kevin "Hot Tub With a Teenager" Garn will have hot tubs scattered around in various places within the Junction Hotel.

Marion said...

Maybe Garn will name it "The Hot Tub Hotel" or THTH for short?

donk said...

How many of you radicals out there in WCF land are feeling disappointment in the ongoing antics of our OC Council.

It used to be that we could count on three or four on the Conucil to act like they had good sense but those days are gone apparently.

We're down to one now and it seems that the rest are cowering behind their titles in abject fear of little old what's-his-name.

Kind of like a judas goat - da mayor - leading the poor dumb sheep toward infinity (bankruptcy is a better word). Oh well, live and learn I suppose. We can't pick winners every time, seems like.

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