Belo’s Conflict of Interest With the Convention Center Hotel
The DMN, as you know, is pushing for the convention center hotel. For the moment, I’m not arguing one way or the other. But if I were going to argue for the hotel, and if I owned, say, $44,620,350 worth of land (in taxable value, and we all know how that game works) near the proposed site of said hotel, don’t you think I’d be remiss if, in making my argument, I didn’t at some point mention all that land?
The image you see here was generated by the good people at Crow Holdings (click to expand). You know where Crow Holdings stands on the issue (I’m looking at you, Hilton Anatole), but that doesn’t diminish the point of this map. As I say, if you add up everything in red, it comes to about $44.6 million. That number, as we’ve learned, is probably low. But if the hotel gets built, you can bet that land will be worth even more.
A fact worth mentioning.
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11 comments
Glad to see that ‘D’ is trying to be objective this time around (I’m looking at you, Trinity Parkway).
It is good to have it documented, but I think everyone assumed that Belo had a dog in the hunt, which of course they would not divulge.
Surprisingly, until this recent controversy, that land had been sitting on DCAD’s tax rolls at the bargain valuation of $40/sf… the same valuation its carried during the entire history of DCAD’s on-line database (1999).
Belo has a “dog” alright. It’s that that stock-pile of paper-maché material they call a newspaper.
Rag.
Of course if their value goes up, they’ll pay more taxes too. Unless they sell and move to the burbs!
Maybe they can trot a couple of live longhorns out there and get an ag designation.
If they sold it, would it finally wipe out the Cue Cat debt? Rowrrrr. Ffftt. Fffftt.
I always knew that Belo owned the Lion’s share of the property in that area…and this map proves it.
What a tragedy for the Tax payers that Belo has been given such a pass for years on these properties….the whole time while pushing Bond elections, and other tax fueled boondoggles that only “the little people” have to fund.
Somewhere there is a special pit in Hell waiting for Moroney, Dechard, and all those who helped them fleece the city, the tax payers, as well as their current, and former employees.
I truly feel for those who Belo has used and abused along the way to building Belo’s “Central Park” dreams.
And I am truly grateful not to have to pick up the tab as a Dallas tax payer anymore.
Anybody know if one of Wick’s residences are within the map above? I’d hate to think it would go unmarked by a dot or something.
Lee wrote: “It is good to have it documented, but I think everyone assumed that Belo had a dog in the hunt, which of course they would not divulge.”
Yes, Tim. It’s awesome to have it documented. Fine work, sir.
Except for that this is hardly news. Belo’s land interests were documented in the April 17 Observer…
http://news.dallasobserver.com/2008-04-17/news/demanding-answers-as-the-dallas-convention-center-hotel-moves-forward/
…and Monday on Unfair Park:
http://blogs.dallasobserver.com/unfairpark/2008/05/keeping_you_appraised_of_risin.php
IJS.
Is anyone else getting annoyed at how obsessed the Observer is with being known as the “first to publish”? SORRY that I don’t read your free, glorified sensual massage brochure every week, but I’m glad the D brought this out into the open for its readers even if it was mentioned a couple times before, sandwhiched between another paper’s liberal rants.
DMN and Channel 8 studios look like a better location for the hotel. Start eminent domain proceedings…