DALLAS - Dallas would own a proposed downtown convention center hotel, financed with up to $500 million of revenue bonds, under a plan adopted Tuesday by the City Council's economic development committee.

The panel's unanimous decision reverses earlier proposals that called for the city to participate in the financing but with the hotel being owned and operated by a developer selected by the council. A plan outlined to the council in April indicated the city would provide up to $100 million in bond proceeds for a $300 million hotel.

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