CHICAGO - Holders of $98 million of senior-lien revenue bonds issued for a St. Louis convention center hotel complex are considering a forbearance agreement proposed by the complex's obligated group that would prevent any move to foreclose on the property until the end of next year to give the operators more time to boost revenues.

Bondholders received the forbearance proposal at a meeting in St. Louis earlier this week set up by bond trustee UMB Bank. It was requested by the project developer Historic Restoration Inc., and the hotel operator Marriott Corp. after their disclosure of an expected $1.4 million shortfall in hotel revenues available for a December debt service payment of $3.5 million.

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