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County advances plan for multiuse event center; first reading sets April 1 public hearing
Summary
Discover Kalamazoo presented financial and demand analyses for a proposed $40M–$41M multiuse event and youth sports center to be paid by a 4% incremental hotel assessment countywide. Commissioners approved a first reading and scheduled a public hearing for April 1.
Discover Kalamazoo on March 4 presented a detailed financial and market case for a proposed multiuse event center and youth sports facility, and the Kalamazoo County Board of Commissioners approved a first reading of an ordinance establishing an event-center financing program and countywide assessment district. The board directed the clerk to publish notice and scheduled a public hearing for April 1 at 6:35 p.m.
The proposed financing model would rely on a 4% incremental assessment on hotel revenue from stays of fewer than 30 nights across Kalamazoo County to secure debt for construction. Jane Gauche, president and CEO of Discover Kalamazoo, summarized the demand analysis and conservative revenue assumptions, saying the plan is based on STR market data, county accommodations-tax reports and a consultant study that estimated up to 36,000 incremental room nights associated with the project over multiple years. She said independent municipal advisers and…
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