A deal on a new convention center hotel in Portland remains elusive, six months after officials said they hoped to have an agreement.
Twice this spring, Metro staffers scheduled work sessions with elected officials. But they had to postpone, because a deal hadn’t been reached.
Teri Dresler, with Metro, says her agency, and the city of Portland and Multnomah County, generally agree on using lodging taxes from the 600-room hotel to pay off its construction. And the holdup isn’t with Hyatt, the company that won the bid to build the hotel.
Dresler says it’s around a broader discussion about restructuring the area’s lodging taxes.
“I think the length of conversations we’ve entered into that were a little more complex than we first anticipated were around some re-financing that’s going to take place of the old PGE Park bonds,” she says. “There’s an opportunity to take advantage of low interest rates.”
Dresler says she’s fairly confident that negotiators will have a hotel agreement ready in time for a work session in early July.