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Council advances first reading to fund Hilton conference-center improvements with EDC-backed financing
Summary
In a first reading the council approved a resolution authorizing the Nassau Bay EDC to pursue roughly $2.8 million in financing to acquire and improve 5,000 sq ft of conference center space at the Hilton Nassau Bay Hotel, to be serviced by hotel tax or EDC sales-tax revenue due to investor concentration concerns.
The Nassau Bay City Council completed a first reading on March 16 for a resolution authorizing the Nassau Bay Economic Development Corporation to undertake a business development project to acquire and improve approximately 5,000 square feet of conference center space within the Hilton Nassau Bay Hotel and related parking.
Staff explai…
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