All along we thought Bob Dean, dastardly owner of the Hotel Bentley was the "holdup" in the "Global" downtown hotel deal. But now another problem has reared its ugly head, Capital One's Bankruptcy Court Claim to the Alexander Fulton Hotel's main tower and parking lot to the tune of $3,081,916.52. To our knowledge, this amount has NEVER been mentioned by the local media or City of Alexandria. Why not? Probably because the media are too lazy or it's not considered important because the amount is so insignificant in the "global" scheme of things. But we bet that amount IS important to Capital One and it will become important to the COA if another 3 million or so will be required to close the deal. All the blather about who "blew" the deal will be settled in Federal Bankruptcy Court with no date set. The COA says claims of Capital One are for naught but the Bank is pressing forward with no comment.
Investigative reporter Greg Aymond of Central La. Politics published the amount of Capital One's claim first. You can review complete documentation of facts and figures on his website.

3 comments:
It's the same old BS. Roy is no different than the city council. Remember everyone standing on the Bentley steps just before the elections 4 years ago? Any serious party will have to either assume all or some of the banks debt or come up with it's own loan to pay off the bank. whatever the appraised value of it's collateral the bank gets as a "secured" creditor.
"This is a great opportunity, and if it's one we miss then shame on us because we're not going to have this chance come by us again," Roy said.
Despite the city's confidence in its case, Roy said he's not against trying to strike a deal and reach a settlement with Capital One for the greater good, because if the city can't deliver the Alexander Fulton, the entire global deal will fall apart.
Has the Roy administration ever delivered on any promise? I can't think of one. The Versailles project was started before Mayor Roy was elected and it's still not finished. Mayor Roy said on KSYL that it would be complete by the end of 2010. I'm not holding my breath. We're on our second hotel deal (the first one was supposed to be a slam dunk) and our second Cleco deal.
BTW, why hasn't Mayor Roy signed the new Cleco deal? The council approved it, so what's Mayor Roy waiting on? Why hasn't Mayor Roy announced that he's running again? Maybe he's worried he'd lose? Hopefully he'll run for another office and Alexandria will be rid of him. Save Alexandria! Jacques Roy for LPSC commissioner!
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