Three million dollars a year for 20 years, that’s how much San Diego wants the Port to contribute toward the $550 million convention center expansion. And the Port commissioners conditionally agreed to provide the money. A formal agreement still has to be worked out. But Port Chairman Scott Peters said it’s a good deal.
“This is a money making thing for the Port,” he said. “Even at $3 million and $3.5 million. If we make $500,00 a year, that’s a pretty good return, especially in today’s market. So this is something we would do to provide a return to the Port.”
Representatives from several other Port cities said they support the expansion. However, they pointed out the Port is comprised of five cities and all of their needs must be considered, not just San Diego’s.
