- Lawmakers raise authority’s bonding capacity to $400 million
- Center’s recent expansion doubled amount of exhibit hall space
The Savannah-Georgia Convention Center Authority, just wrapping up a $276 million expansion, is now set to tap the municipal market to finance a new hotel, thanks to legislators’ move to boost the agency’s bonding capacity.
State lawmakers raised its debt limit to $400 million from $50 million this session to help finance the facility, and the legislation is awaiting Governor Brian Kemp’s signature.
The authority would bond for the proposed 400-room hotel project, said Kelvin D. Moore, general manager of the convention center, said. The new project is “in the initial stages of pre-development,” he said, and he wouldn’t speculate on the selection of underwriters or when the deal might be sold.
Bloomberg Markets
By Joseph Mysak Jr
April 9, 2024