Council to Step Inside Grand Ricchi Today
'Bout a month back we got a sneak peek at the Grand Ricchi, Leobardo Trevino's planned hotel-slash-"office condo" slated to move into the former LTV Tower. When all's said and done, Trevino's supposed to spend somewhere around $26.4 million on the extreme makeover; in turn, the city's offering $12.9 mil in tax increment financing incentives (out of the Downtown Connection TIF) if he makes his deadlines and keeps his word.
The Downtown Connection TIF District board of directors has been on board with this agreement since January. Finally, this afternoon, it goes before the city council -- at least, the Economic Development Committee. And so I'd direct your attention to the PowerPoint prepared for this afternoon's wingding, which contains some heretofore unrevealed details about the project, such as the deadlines for its various phases and build-out stages and a look at the proposed uses floor by floor. In short: To get its certificate of occupancy, and its scratch, the Grand Ricchi's first four floors -- which should include a restaurant, retail space, offices and at least the lobby for the hotel and spa -- need to be move-in-able by June 30, 2011. And ... go.
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