* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: The Council President
At the request of: The Administration (Department of Finance)
A BILL ENTITLED
AN ORDINANCE concerning
Title
Supplementary Convention Center Hotel Loan Fund Capital Appropriation - Department of Finance - $305,000,000
FOR the purpose of providing a Supplementary Convention Center Hotel Loan Fund Capital Appropriation in the amount of $305,000,000 to the Department of Finance (Account #9908-146-031), to provide funds for the acquisition, construction, furnishing, and equipping of a convention center headquarters hotel in the City of Baltimore; and providing for a special effective date.
Body
BY authority of
Article VI - Board of Estimates
Section 8(b)(1) and (c)
Baltimore City Charter
(1996 Edition)
Recitals
Whereas, tourism, conventions, and convention-generated business activity have been cornerstones of the City of Baltimore's economic revitalization over the past 25 years;
Whereas, the acquisition, construction, furnishing, equipping, and operating of a convention center headquarters hotel (the "Hotel") will further improve economic development and increase employment opportunities in the City;
Whereas, construction of the Hotel will create a projected 663 construction-related jobs during development;
Whereas, once completed, the Hotel will support a projected 550 full-time equivalent jobs, with an annual payroll of $19 million;
Whereas, the private-sector operator of the Hotel (Hilton Hotels Corporation) has committed to the hiring of City residents at all job levels;...
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