From: Jeffery Bowen <jlbowen01@xxxxxxxxx>
Sent: Friday, August 5, 2022 10:23 AM
To: undisclosed-recipients:
Subject: Music Commission wants to study pros and cons of expanded convention
center
Austin Monitor / Link Checked
https://www.austinmonitor.com/stories/2022/08/music-commission-wants-to-study-pros-and-cons-of-expanded-convention-center/
Honest Austin / link checked
https://www.honestaustin.com/2022/02/16/convention-center-default-risk/
Morning,
Here we go again.
Looking back in my Convention Center file and found that in Aug 2019 and again
in Sept 2020 the Convention Center Expansion raised its "Head".
So no surprise that this is back on the Mayor's agenda before leaving office.
Attached is the resolution from the Downtown Commission regarding the
Convention Center. The vote was 7 to 1 with the Mayor's appointee voting
against this at the last minute. Any surprises?
Before deciding its position on the proposed expansion of the Austin Convention
Center, the Music Commission will form a working group to study details of the
project that’s expected to cost up to $1.4 billion. Commissioners voted 7-1 at
Monday’s meeting in support of forming the working group, with Commissioner
Scott Strickland voting against the move.
This dollar amount is before the design process ? What a WAG? (Wild ASS GUESS)
Currently all policy and administrative action related to the expansion is on
hold while leaders from Austin Convention Enterprises work to restructure
<https://www.honestaustin.com/2022/02/16/convention-center-default-risk/> the
remaining debt from the most recent expansion to prevent the possibility of
default when the facility goes out of operation. Once that deal is complete,
the city can issue the request for proposals for design work and construction,
which will make the timeline and cost for the project more certain.
The link in the above paragraph article is titled,
"Convention Center’s Closure for Expansion Could Trigger Bond Default"
Do you think the article title is telling the taxpayers of Austin something?
From that article:
The city may not move forward with the next steps in the Austin Convention
Center expansion until an agreement is reached with current bond holders to
rework some terms of roughly $163 million in hotel bonds outstanding.
Jimmy Flannigan, ACE president, told the Austin Monitor that representatives
from bond trustee U.S. Bank are in talks with city staffers and convention
center stakeholders to work out the financial forecast for the expected
four-year closure while the facility undergoes more than $1 billion in
reconstruction.
Yes, former City Council Member Jimmy Flannigan.
There is "A LOT" to unpack.
Currently, a group has reached out to all the Council Members regarding the
Convention Center project.
Paige Ellis (D8) has no interest in this conversation. Guess we know that once
again the Mayor has more influence than the "Constituents" of District 8.
Only certain members of District 8 are even replied to from the D8 Staff. That
is a fact, not an opinion.
Still waiting on the "LIST of BUDGET RIDERS" requested earlier in the week. I
digress.
Apparently, there needs to be ONE MORE Council member to vote against the
Convention Center Expansion.
Several links and articles to read.
Lots of MONEY at stake. Not that Austin could use funds to repair our
"Crumbling Infrastructure". If you have not noticed.
Be Safe
Jeffery L. Bowen
ANC, Sector 8 Rep
