SAN ANTONIO – A new state law is set to supplement improvements to two major local multipurpose venues, sending hundreds of millions of state dollars to the Henry B. Gonzalez Convention Center and the Alamodome.
Introduced by State Senator Jose Menendez, SB2220 gives the City of San Antonio authority to collect “incremental hotel-associated revenue” from hospitality properties within a three-mile radius of both downtown fixtures.
SB 2220 also amended the language of a 2013 bill that established a “project finance zone” to apply to San Antonio.
According to the state legislative budget board’s fiscal analysis of the bill, revenue generated by its passing would amount to $222.3 million over the next 30 years.
Menendez estimated that the city has lost $525 million in economic impact to other cities over the last five years due to insufficient meeting space at the convention center, and he said both venues were integral to the local tourism industry.