The Sangamon County Board hears lodging industry concerns and economic development arguments before adopting a new 3% hotel-motel tax dedicated to expanding the Bank of Springfield Center. A last-minute amendment, shaped by bond counsel, limits future rate cuts once bonds are issued, and the resolution ultimately passes on a 20–5 vote. 15mins
Original Meeting
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Ryan McCrady, President of the Springfield Sangamon Growth Alliance, supported the 3% hotel tax and Bank of Springfield Center expansion, arguing that delaying would raise costs, that the project would boost lodging demand, and that the tax should be reviewed later and limited to funding the expansion rather than a connected hotel.
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Board Member Madonia Jr. proposed, and the board adopted, an amendment to the hotel-motel tax resolution that locked in the tax rate once bonds for the Bank of Springfield Center expansion were issued, after Bond Counsel advised that a previously suggested sunset provision would be fatal to the project’s financing.