STRATEGIC PRIORITY: Economic Development
AGENDA DATE: April 27, 2022
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Convention and Event Services
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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A resolution (1) designating the following as venue projects: an expansion of the Kay Bailey Hutchison Convention Center Dallas, a convention center facility, and related infrastructure (collectively, the "Convention Center Expansion Venue Project"); and the acquisition, construction, and improvement of certain Fair Park Facilities and related infrastructure (collectively, the "Fair Park Facilities Venue Project," and, together with the Convention Center Expansion Venue Project, the "Venue Projects"); (2) designating the imposition of a new hotel occupancy tax increase at the rate of two percent as a method of financing the Venue Projects; (3) directing the City Manager to send the resolution to the Comptroller for a determination on whether the implementation of the resolution will have a significant negative fiscal impact on state revenue; (4) directing the City Manager to place an ordinance on the City Council's agenda calling an election on the question of approving and implementing the resolution upon the first of the following to occur: (a) receiving notice from the Comptroller that implementation of this resolution will not have a significant negative fiscal impact on state revenue; or (b) the expiration of 30 days from the date the Comptroller receives a copy of the resolution if the notice is not provided; and (5) authorizing the City Council, if the method of financing is approved at the election, to establish the Convention Center Expansion and Fair Park Facilities Venue Projects Funds - Estimated Revenue: Convention and Event Services Fund $1,500,000,000.00 over 30 years
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BACKGROUND
The Kay Bailey Hutchison Convention Center Dallas ("KBHCCD") Master Plan is in the eleventh month of the...
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