Group recommends bond issue for hotel plan - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Group recommends bond issue for hotel plan

SAVANNAH, GA (WTOC) -

There are more details about a controversial plan for a hotel at the trade center proposed for Hutchinson Island.

Design plans were unveiled at an earlier Chatham County Commission meeting. The hotel is estimated to cost $125 million to build. The Georgia International Trade Center Authority recommends the money should come from a public bond issue that is backed by the county.  

"We're concerned that if the hotel doesn't perform, it might put the taxpayers at risk. So what we have proposed is only the amount of bonds that can be supported by incremental tax programs, such as property tax funds, or hotel motel tax funds be escrowed to assure that the bonds get paid," said Mark Smith, of the Georgia International Trade Center Authority.

Smith said that details about the hotel are still in the works, but that several companies are in the running.

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