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Convention Center expansion ahead? Port not likely to help fund project.

Publication: San Diego Business Journal
Publication Date: 14-SEP-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Convention Center expansion ahead? Port not likely to help fund project.(HOSPITALITY)(San Diego Unified Port District)

Article Excerpt
City Hall recently got the go-ahead to expand-the waterfront San Diego Convention Center, but since its coffers are empty and the San Diego Unified Port District isn't apt to cough up more money, the $753 million question is how.

The city is still in the throes of a budget deficit brought on by an under-funded employee pension fund.

As for the port district, it forked over $200 million in cash in 1989 to build the original structure.

It also committed an additional $4.5 million annually for 20 years for the first expansion that doubled the facility's size to 2.6 million square feet in 2001 and another $10 million to close a portion of the roof, said Chairman Steve Cushman.

Now the port needs to...

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