For months, taxpayers have been rallying voices on both sides ofthe street over a city-owned hotel, a project perceived as a perkto lure bigger and deeper-pocketed events to Fort Worth's expandedconvention center. Under yesterday's decision, each council memberwill select a representative for the nine-member task force. Inearly January, the group will be charged with its first goal:deliver a recommendation by mid-summer on a hotel or offer othersuggestions to lure convention center trade to Fort Worth.

Once the hotel project is cleared from the group's calendar,it's likely that the members will stay empanelled to help weighsimilar decisions about the city's future, a council spokesmantells GlobeSt.com.

Council was poised to sell certificates of obligation to fund acity-owned hotel project. Unlike a bond sale, a certificates saledoes not go before taxpayers for a vote. Then, more than 15,000signatures on petitions were deposited at city hall--enough namesto force a special election Feb. 1. Rather than go that course,council opted for the "Citizens Committee on Fort Worth'sFuture.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.