City officials propose plan to pay for Convention Center expansi - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

City officials propose plan to pay for Convention Center expansion

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SAN DIEGO (CNS) - Mayor Jerry Sanders' plan to fund the next expansion of the San Diego Convention Center will be presented to the City Council Tuesday.  

Money to pay for some of the debt service on the $550 million expansion would come from a 3 percent levy on each room night for downtown hotels, a 2 percent hike for hotels in Mission Valley and around Mission Bay, and a 1 percent charge for more outlying facilities.  

Since the expansion would generate an estimated 657,000 additional room-nights annually, worth an extra $121 million, the hotels should pay for it, Sanders said.  

More funding sources are needed, however. The mayor said he hopes to finalize a financing package by the end of the year.  

The plan was developed by the mayor, the Convention Center Board of Directors and hoteliers. 

Floor space at the Convention Center would increase by 961,187 square feet to more than 2.75 million square feet. The square footage of meeting rooms and ballrooms would double under the plan.  

The plan is being presented only for information, so no action is expected.

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