Friday, July 21, 2006
The Port of San Diego will evaluate Chula Vista's bid for a major bayfront development next week. The city and Port struck a deal with a company looking to build a resort hotel and convention center.
KPBS Radio's Andrew Phelps has more
Tennessee-based Gaylord Entertainment is sinking $716 million into the project. Half of the project's expected annual revenue of $410 million will go into city coffers. Chula Vista will also get all of the sales-tax revenue that's generated. Mayor Steve Padilla says his city is poised for projects like this one.
Padilla: "In terms of the city's posture it's a city whose financial stability is very solvent, who is providing a lot of new investment and infrastructure and public spaces and parks. There's a lot of major projects underway."
Observers say the city council should approve the project next week. The public will also have a chance to weigh in. For KPBS, I'm Andrew Phelps.