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Council authorizes notice to end convention center lease, approves higher audit fee and starts stormwater ordinance first reading
Summary
City staff told the council it will give notice to the Development Foundation to end the Holiday Inn convention center lease so the city can divest the asset; council also approved an engagement letter for the city audit at an increased cost and completed first reading of Ordinance 7‑48 adjusting the stormwater fund for Phase 3 work in 2025.
City administration asked the council for authorization to notify the Development Foundation that the city will not renew the sublease for the convention center at the Holiday Inn. Brian (city staff) explained the facility was built and paid for with tax increment financing, the debt has been paid off, and the city’s intent is to get the asset…
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