Meydenbauer Center currently consists of a 36,000-sf exhibition hall, 12,000 sf of meeting rooms and a 410-seat theater. The city believes an expanded center would improve the facility's operating performance and be a key driver for economic development in East King County, which provides the Port of Seattle with about 25% of its funding. It would serve the meeting needs of local businesses, attract more convention visitors to our region and satisfy national and regional demand for larger convention and meeting space, according to city officials.
Initially, the city is asking for the port to split the cost of a $250,000 feasibility study. In a memo to the council, planning director Matt Terry says the analysis "would evaluate what we believe to be true-–that our joint participation in this effort will create jobs, properly reposition the center, support eastside businesses, improve Meydenbauer Center's financial performance, and represent a sound business proposition for both entities."
Assuming the analysis doesn't counter the city's hypothesis, the city would then ask the port for an undetermined but admittedly significant contribution for the actual expansion. "We believe that the city and port interests are aligned. The port is dedicated to promoting jobs and trade; the city is committed to promoting economic development, and supporting the many companies on the eastside that sell products in a world-wide market," states Terry's memo to the council. "Investment in Meydenbauer Center by the port, coupled by a comparable investment by the City of Bellevue (through use of the Hotel/Motel Tax) will make expansion feasible."
Of course, the city is stipulating that any port funding would not be used to help locally based developer Schnitzer Northwest LLC build the hotel portion of its proposed 600,000-sf mixed-use development on land adjacent to the convention center. The results of the feasibility study for the convention center expansion is slated to take four months to complete.
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