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Hotel-motel revenue down; Legends Global details capital needs and deferred repairs at Huntington and Glass City centers
Summary
Grants compliance staff reported a projected shortfall in hotel-motel (occupancy) tax receipts and Legends Global presented a list of deferred capital repairs at the Huntington Center and Glass City Center. Presenters said occupancy and related receipts are down and that the fund carries both short-term and long-term debt obligations.
Grants compliance manager Elena Tyrell told the commissioners the county's hotel-motel (occupancy) tax supports the Glass City Center, the Huntington Center, Destination Toledo marketing, and arena debt obligations. She reported occupancy was down approximately 8 percent from recent figures and projected hotel-motel receipts of about $7.7 million for the year versus $8 million the prior year, producing an approximate outflow of $9.4 million and a near-term deficit that may draw on the fund balance.
Tyrell said four debt…
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