Unless the unlikelihood of reimbursement be made by the contractors for the cost of the delay, the answer is somewhat convoluted but amounts to: The Taxpayers and perhaps also countywide hoteliers.
Here’s why:
Every dollar lost by the Convention Center Authority brings it closer to the day that it must turn to the County Commissioners for additional funds in the form of an increase in the Hotel Room Sales Tax from 5% to the legal limit of 7%. Taxes utilized to further subsidize the Convention Center are taxes not available for other causes, a disincentive to potential visitors to the county, and more room tax money out of the pocket of hoteliers throughout the county.
Every dollar lost by the Marriott Hotel brings it closer to default on its mortgage. Not only are city taxpayers foregoing real estate and school taxes and footing the bill for city services for the complex, but they have guaranteed the entire Marriott bond debt.
Who is going to pay for the Convention Center delay? Not he, or she or it. It’s you and me!
