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Albany County holds public hearing on local law to authorize backing convention center debt reserve
Summary
County held a public hearing and discussed a local law to authorize funds and an administrative arrangement that would let Albany County serve as a backstop for the Convention Center Authority's debt reserve in exchange for a share of hotel-occupancy tax revenue; resolution details and numbers will be provided later.
Albany County legislators held a public hearing on a proposed local law that would authorize the county to enter a funding arrangement with the Albany Convention Center Authority, including serving as a backstop for the authority’s debt reserve.
Monica Kuzieski, identified as the head of the convention center, attended the meeting and county staff described the local law as the first step; the detailed mechanics will be set forth in forthcoming resolutions. "This is step 1, which is a local law, and, again, the mechanics and the articulation of what is essentially…
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