DALLAS - The Dallas City Council took the first step toward building a publicly financed convention hotel yesterday, approving a $500,000 option to buy a site adjacent to the convention center.

The council approved the option on a 12 to 2 vote, with a decision on buying the land expected in the fall. On a separate vote, the council agreed to study a restructuring of existing convention center debt to produce savings that could be used in the land purchase.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.