Scottsdale Tourism Bonds

The Scottsdale City Council will receive a report next week that is expected to recommend a November election on a bond measure that would finance new tourism facilities in the city.

The city’s Budget Review Commission will present its report on a proposed $330 million package of bond projects.

The proposals include various projected related to boosting tourism totaling $133 million.

If the council sets the fall ballot, voters will be asked to approve new city taxes to support the bonds.

Scottsdale’s debt is rated triple-A by all three major rating agencies.

The proposed tourism projects include a $30 million Western museum in downtown Scottsdale, a $50 million desert discovery center at the McDowell Sonoran Preserve that would focus on the regional flora and fauna, and a $20 million upgrade to the WestWorld Equidome to an enclosed, air-conditioned all-weather facility.

Voters will decide in March on a proposed increase in the city’s hotel tax to 5% from 3%, with the revenue earmarked for tourist promotion and marketing ­efforts.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER