City heavily invested in Convention Center as well as hotel

When NewsLanc inquired about Convention Center hiring practices, Authority Chair Art Morris referred the question to Center Manager Mark Moosic.

He pointed out that the City residents have a heavy investment in the Convention Center in addition to the guarantee of the bonds for the Marriott Hotel.

He explained "They are residents of the county and thus carry their fair share of risk related to the county guarantee. Also, as you are aware, the City has guaranteed the over $1 million in sales tax revenue that is pledged for debt repayment. If the estimated sales tax revenue is not achieved the City taxpayers must pay the shortfall.

"In addition, the City has guaranteed payment of School, City and County real estate taxes should the Hotel ever be ruled taxable--I believe this would be in excess of $1 million/year."