Developers warn of risk in delaying KC hotel project for vote

Delaying action on the planned Kansas City convention hotel could drive up costs and jeopardize the project, developers told the Kansas City Council on Thursday.

Steven Rattner, a finance expert who’s worked on the $311 million, 800-room downtown hotel deal for more than two years, said developers were ready to finalize bond financing for the project until it was halted by a petition initiative drive.

Delaying financing on the project for several months could result in increased construction costs and interest rates, Rattner said.

Kansas City’s attorney has said the petitions, which aim to put the hotel’s financing to a public vote, are legally flawed and should not go on the ballot.

Read more from the Kansas City Star

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