BALTIMORE-The city of Baltimore will have to siphon $1 million from its general fund to help the city-owned Baltimore Hilton make debt payments this year.
The city's director finance Harry E. Black says the Inner Harbor hotel needs the money to make payments in March and September. The Hilton is expected to contribute $2.8 million in taxes this year from the hotel occupancy tax to the general fund, so the hotel is drawing from money it created, Black says. Mayor Stephanie Rawlings adds that the Baltimore Hilton generated $100 million in economic activity last year.
“I expect it's going to be an ongoing thing for a period of time,” Black says. "The key is navigating through this recession. ... The key is to find a way to ride it out until the recovery gets to a point where there are calmer seas.” See story in the Baltimore Sun.
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