KANSAS CITY, MO (KCTV) -- Today, we're taking a closer look at the city's budget and how a hotel under construction is sucking money from other funds.

The Loews Convention Center is about to open up in April.

The hotel has sprung up in the last year and it took a lot of incentives to get it there. Now, the city owes Loews a lot of money and could for years to come.

People who live and work downtown are excited about what the Loew's hotel and convention center could bring when it opens in April.

“It's a good project for the city,” Rob Boudreaux said.

“It's going to bring a lot of exposure to downtown,” Corey Egan said.

That promise of development is what persuaded the city council to sign off on millions in incentives when they were approved in 2015, just before Quinton Lucas was elected to the council.

“The way it was supposed to work out was that it would pay for itself,” Lucas said.

However, that turned out not to be the case.

The catering revenue from the hotel going back to the city is projected to fall short and leave a $4.4 million gap.

“The challenge is that we don't even have enough in that dedicated tax fund to cover that deficit, so you're getting the general fund to be a backstop,” Mayor Lucas said. “I think the problem is we had rosier expectations.”

The city could end up covering that gap for the next 20 years.

“The city definitely should have seen it coming,” Egan said before adding, “Hopefully in the long run it’s worth it.”

“It's just reading the fine print,” Boudreaux said. “If you don't like it, don't do it.”

You can see everything the city spends money on and the revenue it collects on its new open budget site, which can be found here

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(4) comments

Jacque

It is not the Loews Convention Center as mentioned. It is the Loews Kansas City Hotel which is connected to the Kansas City Convention Center.

Threedawgs123

Corruption is an insidious and nasty thing in many fascets. Sly, the previous mayor and many of the council members when he was mayor, and some that are still council members, including the present mayor, shoved this un-needed motel on Kansas City citizens with TIF, etc. financing; and probably all received their share of illegal payoffs and kickbacks as part of this package. They purposely ignored the cost over run that would come back to haunt the taxpayers left holding the bill-knowingly. They can be harshly dealt with. We shouldn't let them get away with this! I'll be surprised if this comment is not censored.

Threedawgs123

It doesn't do any good to leave a comment on a censored site!

UnkleRemus

The cost to the taxpayers wasn't cared about because the politicians involved in this un-needed motel were kicked back huge amounts of illegal dollars to vote this in. Now because of Sly James and the corrupt city council, etc., some of them still around, and one of them now the mayor--need to be fed alive to hogs.

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