| News |

And Here's How We'll Pay for the Convention Center Hotel

Keep Dallas Observer Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Dallas and help keep the future of Dallas Observer free.

For those who like to get a jump on their city government's weekly doings, here's one of the agenda items for tomorrow morning's meeting of the city council's Economic Development Committee: the plan for purchasing the land necessary to build the convention center hotel Mayor Tom's rushing through without explaining why the city's willing to spend up to $41.3 million on land valued at $7,345,640. Turns out, city staff tomorrow will recommend to the committee that the city issue $41.3 million in certificates of obligation, which would "be refunded with the sale of revenue bonds for the Convention Center Hotel or the refunding/restructuring of the Convention Center’s existing debt." In other words, the city will issue bonds without asking the voters' permission.

The doc also says this sucker's on the fast track: Should the committee approve the staff's recommendation, it'll go before the full council by February 27. And there's no reason to think it won't fly with the committee: As Sam noted last week, Mitchell Rasansky's the only council member on the Economic Development Committee who voted against spending $500,000 on a down payment for the property. Said Rasansky, the convention center hotel plan is “extremely flawed.” Which is much nicer than what Harlan Crow said. --Robert Wilonsky

Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the Observer community and help support independent local journalism in Dallas.


Join the Observer community and help support independent local journalism in Dallas.