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Portland Commissioner wants to limit convention center hotel financing

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Friday, August 02, 2013

Portland Commissioner Steve Novick wants to limit how much local lodging tax could help finance a new convention center hotel.

The Portland City Council and the Multnomah County commissioners would have to give their OK to divert proceeds from the lodging tax to pay off $60 million in Metro revenue bonds to help finance the hotel. Those bodies are expect to have their first chance to weigh when they take up that issue in September.

Novick decided he didn't want to wait that long. He said this week that he wants only lodging taxes from hotel stays actually generated by conventions to go toward the hotel's financing.

Read more at OregonLive.com.

 

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