Jan. 23 -- Erie County Council and representatives of the Erie County Convention Center Authority will meet today to talk about a proposal that would see the county guarantee up to $30 million in debt for a proposed new hotel adjacent to the Bayfront Convention Center . The panel will discuss the issue at its Finance Committee meeting, which starts at 4 p.m. in its caucus room at the Erie County Courthouse , 140 W. Sixth St The authority is seeking a guarantee related to either a long-term capital bond or bank financing, said Roger Richards , a Convention Center Authority board member who heads the authority's Strategic Planning Committee. The financing would be used along with a $25 million state grant to fund the hotel. A county guarantee would allow the Convention Center Authority to obtain a lower interest rate on the debt. ___ (c)2014 the Erie Times-News (Erie, Pa.) Visit the Erie Times-News (Erie, Pa.) at www.GoErie.com Distributed by MCT Information Services
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