Lodging Tax Setback May Affect JC Conference Center Plans
JEFFERSON CITY - Despite having less money than initially anticipated due to lower tax revenues, Jefferson City council members said they are certain the city will reach its goal of $9 million for a new conference center.
Initially, the city predicted $600,000 would be collected per year, which would come out to $50,000 per month. Right now, the fund is less than $50,000 short of what it was predicted to collect.
Some council members said the proposals will likely use all, if not more, of the nine million dollars the city claims has available for construction of the conference center.
Other council members said it's still very early to tell if the lack of funding will be an issue in this project. They also said when this new conference center is built, hotels in Jefferson City will likely see an increase in guests, which would increase the lodging tax collections.
City Administrator Nathan Nickolaus says the city is at least one year away from looking at any bonds for the conference center and "a lot can happen in that time."
He says collections could increase in that time frame, but no one will know for sure until the moment they are ready to bond.The Jefferson City Council is moving forward in the review process for three conference center proposals, with another closed session meeting scheduled for Monday.
The meeting at 4:30 p.m. Monday was supposed to take place Thursday afternoon, but the winter storm that hit the area caused the council to reschedule.