The ultimate zombie
The Portland convention center hotel scam is back. The stinker convention center, which as voters wisely sensed should never have been expanded, wasn't bad enough. With a boondoggle hotel, suddenly it will break even after years of financially devastating losses.
The Oregon Convention Center posted an operating loss of $10 million on revenue of $19 million. That compares to an $8.3 million loss on $16.6 million in revenue the prior year. The convention center hosted 469 events attended by 570,400 people. The total economic benefit to hotels, restaurants and other businesses is calculated at $449.6 million and 4,260 jobs. Multnomah County, home to the convention center, is the largest beneficiary, garnering $343.6 million in spending and 3,260 jobs. Clackamas County benefited from $17.1 million in spending and 430 jobs. Washington County benefited from $60.4 million and 570 jobs. Convention center-related activities generated nearly $15.5 million in tax revenue for local, regional and state government in the form of income taxes, lodging taxes and corporate taxes.
Sure. Let's all send a thank you note to Hoffman Construction. Thank you for the convention center! It's such a big part of why Portland's doing so well these days. And thank you, Vera, for everything -- especially Sam Adams.
Of course, the lobotomized "journalists" in town play right along:
Today, construction costs are down by 10 percent and interest rates on bonds are down 1 to 1.5 points. And hotel operators are on the prowl for projects. Metro reported that it has been contacted by numerous organizations that want to enter the Portland market, making it more likely that a private developer, not taxpayers, could shoulder the cost.
The controversial hotel project is considered a critical amenity for the Oregon Convention Center, which reportedly loses business because it can’t provide the large blocks of rooms organizers demand. Elisa Dozono, a MERC commissioner, said a legal group she belongs to pitched Portland for its 2013 convention but lost to Kansas City because Portland couldn’t muster 400 rooms near the convention center.
The number of hotel opponents interviewed for that "article"? Let's see... that'd be zero.
There's only one way that hotel will ever be built, folks, and that's on the backs of taxpayers. If it made sense financially, private money would have done it a long time ago.
Maybe it's time for the Clackistani rebels, who are successfully battling "urban renewal" malarkey in their neck of the woods, to come up with some candidates for the Metro council who can put a stop to this kind of theft once and for all. We'd vote for any candidate who said "No convention center hotel, ever."
And Tom Hughes? You're on notice, dude.