TITLE

Measure Offers Second Chance to Phoenix Convention Center Project

AUTHOR(S)
Williamson, Richard
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/2/2003, Vol. 344 Issue 31627, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Phoenix, Arizona's 600 million dollar convention center expansion may get a new lease on life under a bill introduced in the Arizona Legislature on May 1, 2003. Sidelined in February 2003 by the state's one billion dollar revenue shortfall, the bill would commit the state to covering half the cost of the expansion. Phoenix would finance its share of the project with 300 million dollars of revenue bonds that have already been authorized by voters. It would use state money in the future to repay the debt. Supporters of the convention center, known as Civic Plaza, had lobbied with legislators to explain the importance of the expansion. The sixth largest city in the U.S., Phoenix is losing convention business to other cities, particularly Las Vegas in Nevada. As a tourism-dependent state, Arizona has funded a number of other ventures to attract visitors but needs to enlarge its undersized convention center, officials say.
ACCESSION #
9740697

 

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