Search
 

Convention Center Ready for Contract

TACOMA, WA-Crews working on the $120.7 million Tacoma Convention and Trade Center complete demolition and site preparation. City officials are set to vote on a proposed $63.2 million construction agreement.

By Gina Binole | Updated on October 11, 2002

TACOMA, WA-With demolition and site preparation complete, the City Council is set to vote on a proposed $63.2 million construction agreement with M.A. Mortenson Co. for the Tacoma Convention and Trade Center.

Last November, city officials OK’d a $3.1 million agreement with Mortenson for building removal and site preparation for convention center. The Council approved the $120.7 million Greater TacomaConvention Center and downtown parking system expansion financing plan last July.

Funding for the project comes from future revenues-hotel-motel tax and parking fees-generated by the center and expanded parking system. In addition, a state-authorized sales tax collected in Tacoma, Lakewood, University Place, Fife and Pierce County specifically for convention center construction also contributes to the project. None of the revenues could pay for General Fund services, such as police, fire, libraries or parks.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.