Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TACOMA, WA-The City Council next week will consider an ordinance that would incorporate final details of the terms and conditions of the $120.7 million Greater Tacoma Convention Center financing plan that was approved in concept last summer.

The commercial paper notes would retire $40 million of short-term notes issued through Banc of America Securities that served as a line of credit the used to pay project costs. The second funding phase will retire all of the original notes and provide construction financing.

The notes would be backed by parking system revenues and sales tax credit payments from the Public Facilities District, the City’s lodging taxes and the City’s taxing authority. The Council will take public testimony May 21 and expects to vote June 4.

The Convention Center would encompass almost 215,000 sf of convention space, a 200-room hotel, residential units, retail stores and parking spaces between Market and Commerce streets and South 15th and 17th streets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.