Palm Beach County commissioners Tuesday selected Ruden McClosky Smith Schuster & Russell PA to be bond counsel and to perform related legal services related to the development of a planned convention center hotel.
The county sold $11.4 million of taxable public improvement revenue bond anticipation notes in April 2007 to purchase the hotel site. The Bans mature May 1 and will be taken out with permanent financing. Ruden McClosky was bond counsel for the Bans and previous financings for the convention center.
On March 9, commissioners are expected to pick a developer to build a 400-room Hilton hotel. A selection committee Feb. 21 voted to recommend that the county commission select Related Cos., which submitted one of four proposals.
According to the Palm Beach Post, Related has said it would contribute $26 million toward the $100 million hotel. Other financing details have not been released. The Palm Beach County Convention Center opened in downtown West Palm Beach in January 2004 without a hotel.
