Lawmakers propose $10M funding for Convention Center hotel

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Monday, July 08, 2013

Oregon lawmakers proposed to partly fund the Convention Center hotel with $10 million in lottery bonds.

Metro officials were seeking $12 million in state bonds for the project, which would be built in partnership with Mortensen Development. Metro projects the project, once completed, would generate around $5 million per year in income taxes and a special hotel tax would pay down $60 million in public bonding for the project.

The project has drawn opposition from a consortium of private hoteliers, who charge that the project will offer unfair competition for visitors.

Read more at OregonLive.com.

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