By Save Anaheim
What the heck happened to Gail Eastman’s hair? Losing the election must have turned it white.
Little history lesson from the Voice of OC archives:
The Anaheim City Council is scheduled Tuesday night to approve a massive convention center expansion, a gamble that industry experts say puts the city’s general fund at tremendous risk because flawed revenue assumptions are all but certain to fall short.
The proposal up for consideration, according to a city staff report made public late Friday, calls for adding over $200 million to the general fund debt — more than double the current city facilities debt — to finance the addition of 200,000 square feet to the convention center, among other costs.
City officials assume the expansion will more than pay for itself mostly through added hotel room tax revenue and cite a report by Tampa-based Crossroads Consulting Services that claims the expansion will bring in between 292,400 and 350,200 additional guest stays annually.
However, experts in the economics of convention centers say the city is making this bet during an era in which convention center space nationwide is rapidly increasing while demand remains stagnant.
Across the western United States, cities are either planning or have completed such expansions in recent years,
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