Keystone Hotel: Is the glass half empty or half full?

Recent news about the Keystone Hotel project can be construed as positive or negative, depending on whether you are a glass-half-full or a glass-half-empty type. Rex Nelson, Executive Director of McCook Economic Development Corp., reported that the proposed renovation of the former Keystone Hotel has been delayed due to rising construction costs. A proposed timeline for the project was not revealed, leaving the delay "indefinite."

The literal meaning of the word "indefinitely," according to Encarta dictionary, is "for unspecified length of time." That is exactly the term that should have been used to describe the delay. No one knows for sure how long the re-evaluation of capital resources and re-bidding of the project may take. In this context, "indefinitely" does not mean that the project will be delayed forever.

If your glass is half full:

Rumors around town abounded that the project was dead in the water. Hearing that the MEDC plans to re-evaluate and move forward with the project was certainly positive news for those citizens who would love to see the stately seven-story building restored to prominence on Norris Avenue. As Nelson said, "The positive economic impacts of the business and entrepreneur center, along with the other important benefits to downtown that would come from restoring this grand structure still suggest that we should find solutions to these challenges and move ahead."

More good news was revealed in the fact that the proposed anchor tenant, 21st Century Systems Inc. remains firmly in support of the project. 21CSI is a software application firm now housed on the McCook Community College campus. As the anchor tenant, 21CSI will occupy the fourth floor of the Keystone, making room for more computers and software technicians. 21CSI continues to make financial investments in their business here in McCook, and they are still committed to the Keystone project. 21CSI employs 10 technicians in McCook and will add 26 more when office space permits.

If your glass is half empty:

Yes, we are discouraged by the fact that bids secured in March were over a million dollars in excess of the $3.1 million estimates used to develop the original financial package. Rising costs for steel, copper, fuel and a tightening labor market were primary factors indicated in the increases. Time is of the essence because $1.578 million in federal funds were awarded to the project under the requirement that construction begin by 2008. That gives the community 8 months to begin construction or receive an extension. And it is very unlikely that steel, copper, and fuel will decrease in price the longer the project is delayed.

Now is our time to choose:

As a community, we can choose to view the obstacles ahead of us as insurmountable. We can look at the financial barriers and decide that this is a hurdle we simply cannot overcome.

Or, we can roll up our sleeves and go back to the drawing board. That is exactly what the MEDC has already begun to do. Certainly it will take the cooperation and support of the entire community. We all should expect that the MEDC will keep the community informed on the progress of this important project. But once the Keystone Hotel has been renovated and it becomes a center for downtown commerce, the Keystone glass will be full to the brim.