Convention Hotel Update from Sam Merten: As Predicted…

…things don’t look good for those rushing Dallas into this boondoggle. But it looks better for Dallas taxpayers.

While the city council continues to face delays regarding the selection of an operator for the convention center hotel, the holdup is unlikely to have any effect on Mayor Tom Leppert and the council’s plans to begin construction on the project in April. However, the current status of the financial bond market poses a real threat to that strategy, which Leppert orchestrated to render the May 9 referendum on the project irrelevant.

So, while the city waits for the market to make a major turnaround, the clock is ticking. A vote by the council on the bond issuance would have to take place approximately one month before construction, which means the council would need to approve a bond issuance at the March 4 council briefing in order to begin construction as planned on April 1

Read about it here. Nice work, Sam.

UPDATE: Sam has more on the embarrassing panhandling the city of Dallas is doing to get the rest of America to pay for the convention center hotel.