BY WILLIAM CRUM, Staff WriterOklahoma City’s top economic development officer acknowledged Tuesday that taxpayers would have to subsidize — in some form — the luxury hotel seen as a necessity to ensure success of the $287 million MAPS 3 convention center. Cathy O’Connor discussed the hotel project as the city council approved $265,000 to renew the search for a convention center site. Ward 2 Councilman Ed Shadid said proposals recently submitted by hotel developers include projections that a 600-room, $200 million hotel will require subsidies in the range of 40 percent to 60 percent. Shadid asked O’Connor, president and chief executive officer of the Alliance for Economic Development of Oklahoma City, “Are we ready to say that this is going to require a sizable public investment?” “I think we’ve been saying for some time now that this will require a public investment.Read more on NewsOK.com

 

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