Convention Center Hotel Debt is Cheaper than Projected

Today, the agreement was signed to set the average interest rate at 4.69% for bonds to build the Dallas Convention Center Hotel. This is significantly lower than the 5.5% rate cap that was set by the Dallas City Council, and will save the city millions of dollars. There are investment commitments for the entire $480 million in bonds.

According to this article, the lower interest rate translates to a savings of $149 million of the life of the bin

This runs contrary to those that doubted that the Convention Center Hotel bonds would be sold. Construction should begin in about three weeks.

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