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Dallas City Council Delays Land Purchase

By BJ Austin

http://stream.publicbroadcasting.net/production/mp3/kera/local-kera-698879.mp3

Dallas, TX – The price tag for what is now an 8 acre parking lot at Lamar and Young Streets is 42 million dollars and City Council member Angela Hunt says that's too much to spend without more number-crunching and investigation.

Hunt: "Making sure that this convention center hotel is a net economic benefit to the city of Dallas. And as of yet, I haven't seen proof that in other cities this has been a net economic generator. It's been appraised by DCAD at 7 million, and there are other appraisers who say it's worth maybe 30 million. How much is this land worth, and are we overpaying for it?"

Gina Norris, with Crow Holdings - owner of the competing Anatole Hotel came to City Hall with two other appraisals, for 12 and 13 million dollars LESS than the city's - and a warning to look closely before leaping. Council member Dave Neumann says that's what they intend to do.

Neuman: "It has to be done in a way that makes sense for the taxpayers, and also makes sense for the hotel industry."

Mayor Tom Leppert says the delay on a land-deal vote does NOT derail the timeline for the big project.

Leppert: "I know that there were a number of interviews this week with the developers as to what the package was, what their structure was, what their proposals so that's all going forward. I think what we did is make sure that we didn't get out ahead of ourselves, in other words, commit ourselves before we say here's a structure that makes sense and then we go forward."

The next possible' vote on the land purchase is May 14th. Deadline to buy it without a 250 thousand dollar penalty is June 20th.