By state law, the room occupancy tax funds dedicated to the Wilmington Convention Center can only be used for the construction and operation of the center, city spokeswoman Malissa Talbert said.
The financial model linked to here shows the revenue received or expected coming in from the room occupancy tax until 2038, when the center will be paid off, Talbert said.
“This includes debt payments, maintenance (including housekeeping), utility costs, technology, marketing, furniture and equipment replacement, etc.,” she said.
Budget models show new convention center will run in the red
Wilmington Convention Center topic page at StarNewsOnline.com
What events are booked for the new Wilmington Convention Center?
Where did the convention and visitors bureau come up with the figure that each tourist spends $290 a day?
What is the annual salary of the new general manager at the Wilmington Convention Center?
What’s the likelihood of seeing big-name concerts in Wilmington with the completion of the convention center?
Date posted: November 12, 2010
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