Suite Deal

Developer offers city subsidy if Crowne Plaza ownership will sell

SC: Well . . .

TR: I'm that confident of it. Ya know, let's do a $20 bet, if we ever get there.

SC: Um, I don't know I want to bet on that particular item, $20 or otherwise.

Steve Cohn, outside the Crowne Plaza.
Paolo Vescia
Steve Cohn, outside the Crowne Plaza.
Sheryl Sculley, deputy city manager.
Sheryl Sculley, deputy city manager.

TR: Now, so Host Marriott is a natural since they're, they benefit from it.

SC: I suppose.

TR: So that's an easy one. And obviously I understand that there's going to be some sensitivity to anybody knowing that you are shopping, that we are shopping for a buyer for your hotel. So, I mean, I will, we will do everything within our power that, ya know, that the press doesn't know about it.

SC: Well, basically, um, see, I haven't agreed to sell the hotel. I've just still said that you can bring on an offer. I would say that with anything that I ever owned.

TR: Right. At some price, you might even be interested in selling it?

SC: Yeah.

TR: Not being marketed.

SC: Ya know what? I don't have anything that wouldn't be sold at some price, too.

TR: Yeah. Me, too. Every building we own.

SC: Exactly. We're in exactly the same place here.

TR: Well, let me talk to Mark. And you've talked to him about the concept, our conversation, I assume?

SC: Oh yeah, like I told you, he thought it was ridiculous. But I did talk to him about it.

TR: Well let me see if he'd share any of the names on the list. We'll . . . let's see if we can put our heads together on who possible buyers would be and see if we can drum something up.

SC: Okay, um, I can give you a cell number. I don't know if he's at the office or not. He wasn't when I last talked to him.

TR: Uh-huh.

SC: Let's see, what is it? (Gives number.)

TR: Any other bright ideas that you thought of, ya know, since our last conversation of how we can put this to bed? You haven't reconsidered your lawsuit?

SC: I consider the lawsuit everyday. It's one of the things I do. Ya know, I go to bed at night just wondering what is going to be written in the paper the next day.

TR: Well, the city hasn't answered your complaint, have they?

SC: No. I mean, I assume that we will get a response. I don't know that we'll get it this week. I assume we will get it next week.

TR: They're trying to get it out this week, is what they said. So we'll see.

SC: And, they may. But the attorney that the city has? The lead attorney?

TR: Oh, Squire Sanders & Dempsey [law firm] is doing a response. They said they wanted it out by, they said, ya know, midweek, which is already today so . . .

SC: They may have it out, but I assume the guy's going to be fairly careful in his response, and it may take them a bit longer to be a little careful.

TR: Maybe. Okay. Well let me, we'll see what they come back with, in the meantime, we'll pursue this option.

SC: Okay.

TR: Any other words of wisdom for me?

SC: Um, let's see . . . words of wisdom . . . I don't think I . . .

TR: How about . . . what about this, what if we let you be a partner in the hotel with us?

SC: What hotel?

TR: The new one.

SC: The Marriott?

TR: Yeah.

SC: I don't know that it has any value, but it's an interesting concept.

TR: Ya know, some, some, ya know, limited interest in the hotel, ya know, not a general partner or obligation or anything. How about that concept?

SC: Well, you keep thinking about it. And, ya know . . .

TR: I mean, is that anything worth discussing? Or is it basically . . .

SC: Well, see the problem we got here is that the city. We are put in a difficult position because the city has behaved imprudently. They made a deal with you that they maybe shouldn't have made. But regardless of whether they should have or shouldn't have, the, what you are banking on is the fact that they have invested so much money that they have no choice but to expand Civic Plaza.

TR: And they certainly have a strong desire to do that, as you've seen.

SC: Sure.

TR: It's probably a bad idea, because the city probably wouldn't do the deal if they knew that you were partners with us on it.

SC: Maybe, yeah.

TR: 'Cause they like you so much.

SC: I think some of them like me a lot.

TR: They joke about me since I talk to you. They go, "Jeez, your buddy, Steve . . ." No one else even talks to you.

SC: See you're one of the people who talks to me. I think that's good. The rest of the people, they don't talk to me as much anymore.

TR: I wouldn't think so.

SC: It makes me lonely.

TR: I can't imagine anybody at the city talks to you, do they?

SC: Anybody with the city? Um . . .

TR: Does Chuck [Coughlin, political consultant] still talk to you?

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