Sunday, May 03, 2009

Politics Dallas Style

There is an election next Saturday in Dallas. The big question is whether Dallas should remain the only one of the top 20 convention cities in the nation without a Convention Center hotel to support the gatherings.

Some Background on the Issue

Did you get that? Do you think the voters will? A "Yes" vote means NO to the hotel. A "No" vote means YES, build it.

Who is opposed? Why millions of dollars have been devoted to fighting the hotel by one man. He owns a downtown hotel!

He claims the hotel will be a money-loser for the city. If downtown Dallas hotel-owning is such a bad investment how does he get more than $6 million to spend fighting some competition?

There's also the issue of city tax-payers being on the hook if the hotel proves unprofitable. There's something very basic about revenue bonds that he apparently is willing to overlook. They aren't the same as general obligation bonds and aren't backed by "full faith and credit" of the issuing entity.

But, why have a vote if anyone is going to be encumbered by facts?

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