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City CFO tells CVB board the Garfield report lists four funding options, including 2% more hotel tax
A month after the council approved $260 million in tax anticipation notes, Assistant City Manager Laura Storrs told the Convention and Visitors Bureau board that the Garfield report "suggests four funding options for the $260 million renovations to the Civic Center Complex": naming rights for the arena and exhibit space, an additional 2% hotel occupancy tax, a third-party operator, and increased sales tax and hotel tax. The day before, she updated the venue district board on the council's May 24 action.[1][2]
Laura StorrsGarfield Public/Private LLC
What the sources say
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Laura Storrs, Assistant City Manager: The CVB minutes of June 22, 2022 record: "Laura Storrs presented the Garfield Report suggests four funding options for the $260 million renovations to the Civic Center Complex. The options are naming rights for arena and exhibit space, an additional 2% from HOT, third-party operator, and increased sales tax and HOT." The minutes do not say which option, if any, the City chose; the Garfield report itself was not fetched. [1]
- ✓ Verified
The venue district minutes of June 21, 2022 record that Storrs "updated the Board on action that the City Council took on May 24, 2022 to approve a debt issuance and project budget for renovations and additions to the existing Civic Center facility," and that Fowlkes said the Civic Center projects already funded by the district were scheduled for completion in late July or early August. [2]
