AUSTIN —
Though it's not time to toss confetti from the Baker Hotel windows, Friday's Texas Department of Rural Affairs meeting in Austin did give rise to hope and some celebration.
A two-hour hearing on the Baker Hotel project with TDRA and city officials and project representatives resulted in the board deciding to gather more information to help it make a decision later on whether to approve government-backed bonds to help restore and rejuvenate the 80-year-old downtown landmark.
In essence, it means the project is still alive.
“We made progress,” Mayor Mike Allen said. “They were very receptive.”
The Baker development group and representatives from the city are trying convince the state agency to set up a Housing and Urban Development Section 108 loan guarantee program for rural communities in Texas. If the program is set up, the developers plan to apply for $20 million in financial backing for the $54 million project.
Rejection by the agency will deal the project a serious – possibly fatal – blow.
The same board of directors declined to set up the program several years ago so city officials were unsure of their reception before going into Friday's meeting.
“It went extremely well,” said Laird Fairchild of Hunter Chase Capital Partners, part of the Baker development group.
After the presentation, the group took questions from the board for 40 minutes, much longer than they expected, Fairchild said.
“Without exception, every board member was very complimentary to the presentation,” Fairchild said.
Board members also offered their support for the project in any way possible, according to Fairchild.
They also offered suggestions for other possible methods of financing, Fairchild said.
“It was what we were hoping for,” Fairchild said. “The TDRA decided to pursue more information.”
“But from the minute that the presentation started … you could tell they were involved,” Kevin Pruitt said. “You could tell they were moved.”
Pruitt estimated 30 to 40 people were in attendance representing city leaders and those involved with the project.
“I think they were impressed with how many people were there,” Pruitt said.
Included in the presentation was Pruitt's eight-minute trailer for his film documentary on the Baker Hotel and history of Mineral Wells. Pruitt said he was glad to be able to do his part as a filmmaker in presenting the story of Mineral Wells and what the Baker means to the town in addition to the financial numbers and other aspects of the project.
“I felt like we had an excellent presentation,” said Mineral Wells Area Chamber of Commerce Executive Director Beth Henary Watson.
The board received a thorough answer for every question they asked, according to Watson and Pruitt.
Watson said she was able to share what the community has to offer as far as tourist attractions, natural resources and businesses that would benefit from the restoration and lend to the viability of the project.
“In all likelihood, we will be going back in the future,” Watson said. “The chamber is … certainly going to be there every step of the way.”
“I think right now, we are surfing this wave of momentum and we cannot let this die,” Pruitt said, encouraging those interested in the project to write letters of support for the project to the TDRA, the governor and other government representatives.
Fairchild said they will continue to work with the TDRA to provide answers to any questions they have and will continue to explore other possible alternatives for public and private financing.
Letters can be sent to the Texas Department of Rural Affairs, attention Charlie Stone at P.O. Box 12877, Austin, Texas 78711.
Index staff writer Christin Coyne can be reached at (940) 325-4465, ext. 3428, or ccoyne@mineralwellsindex.com.
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