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Portland, Multnomah expected to OK hotel financing

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Wednesday, September 18, 2013

The Portland City Council and the Multnomah County Commission appear ready to approve a financing plan for a publicly backed Convention Center hotel.

Neither gets an up-or-down vote on the $198 million project spearheaded by Metro, the regional government that operates the convention center. But they do have to approve the usage of a local lodging tax that would be used to pay off $60 million in bonds issued by Metro that would help finance the Hyatt-flagged hotel.

That would be in addition to $18 million in state and local grants and loans already approved to support the project.

Read more at OregonLive.com.

 

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