The mammoth convention center in New Orleans looks to embark on another expansion phase that would include a corporate meeting center, hotel, condos and retail space. The House Ways and Means Committee approved HB 788 by Rep. Walt Leger, D-New Orleans, that would authorize the convention center authority to increase its bonding capacity in order to raise up to $142 million to be used to attract $1 billion in private investment, according to the author. The revenue bonds would be paid back from the authority’s share of the local hotel-motel tax and revenue generated from the commercial development.Remember, the Convention Center receives 3 of the 13 cents that comprise the hotel/motel tax already. If they get to run their own hotel, that money stays in-house, I guess. It's their own little ho-zone of sorts.
Tuesday, April 08, 2014
Can they have an iconic structure too?
After having lost out on a scheme to glom taxpayer subsidized hotels and condos onto its piece of the Tricentennial Consortium WTC redevelopment plan, Convention Center execs are just going to ask the legislature directly.