Convention Center Ready for Contract

TACOMA, WA-With demolition and site preparation complete, the City Council is set to vote on a proposed $63.2 million construction agreement with M.A. Mortenson Co. for the Tacoma Convention and Trade Center.

Last November, city officials OK’d a $3.1 million agreement with Mortenson for building removal and site preparation for convention center. The Council approved the $120.7 million Greater TacomaConvention Center and downtown parking system expansion financing plan last July.

Funding for the project comes from future revenues-hotel-motel tax and parking fees-generated by the center and expanded parking system. In addition, a state-authorized sales tax collected in Tacoma, Lakewood, University Place, Fife and Pierce County specifically for convention center construction also contributes to the project. None of the revenues could pay for General Fund services, such as police, fire, libraries or parks.

Opening in 2004, the 215,000-sf convention center will include a 50,000-sf exhibit hall, 23,000 sf of meeting and ballroom space at South 15th and 17th streets between Market and Commerce streets. The project also calls for 650 parking stalls, and includes the private development of a hotel, retail and residential area. It is the largest city-led capital project, both in size and cost, since the Tacoma Dome was constructed 20some years ago.

Officials estimate the project will generate annual revenues of roughly $55 million. The city is planning a Nov. 1 groundbreaking ceremony.