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Consultant: 3% lodging tax could support about $37.5M–$41.2M in convention center project funds
Summary
Baker Tilly presented conservative and alternative scenarios showing a financing capacity between roughly $37.5 million and $41.18 million for a Fargo convention center funded by a voter-approved 3% lodging tax, based on timing, growth and term assumptions; staff requested more scenarios and supporting documents.
Steve, a consultant from Baker Tilly, told the Fargo Convention Center Committee that a conservative scenario using the voter-approved 3% lodging tax produces a project deposit capacity of about $37.5 million and that a longer financing term or higher growth assumptions could raise that figure to roughly $41.18 million.
The analysis matters because the committee is designing an RFP and budget framework tied to the lodging-tax revenue approved by voters; the numbers will shape what size project the city can support without additional subsidies.
Steve said the model assumes tax receipts would begin to be collected in June 2026, with financing closing in August 2026 and principal payments beginning June 2027, and that the baseline scenario uses 2% annual taxable…
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