
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









So, we can fast track a useless hotel at the convention center, but the Cowboys and Rangers can't seem to get a stadium downtown? I would love to see the numbers of how many large conventions are held or plan to be held in Dallas anyway. I thought that Dallas had become an unfriendly place to hold that stuff due to the high amount of tax being placed on rooms and such. I think Grapevine has the right idea with the infastructure they have in place.
Posted at: February 18, 2008 9:47 AM