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City, Developer Closer to Convention Center, Hotel Deal

SALEM, OR-Hotel developer VIP Industries offers more than $2 million to allay fears that initial operating losses by the adjoining convention center will end up being paid from the city's general fund, which is already facing a multimillion shortfall.

By Brian K. Miller | Updated on February 01, 2002

SALEM, OR-VIP Industries, which is trying to develop a hotel and convention center in Downtown Salem, appears to be making progress in its negotiations with city officials.

Early last year, VIP, operator of the Phoenix Hotel chain, acquired the former Ramada Inn property at Southeast 200 Commercial St. in Downtown Salem. It offered half of the land for a convention center with plans to develop a convention center hotel on the remaining half.

Negotiations got under was last fall, and now it appears enough money is on the table to convince city officials it won’t be having to find money in a general fund that already facing a $6-million shortfall for the next budget cycle.

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