The Real Deal Miami

Palm Beach approves $27M in taxpayer funds for convention center hotel plan

April 12, 2011 02:37PM

Palm Beach County’s long-planned convention center hotel will get at least $27 million in taxpayer funding thanks to a 4-2 vote by county commissioners today. The vote gives the county license to move forward with negotiations on contracts with the Related Companies, the development company owned by Miami Dolphins majority owner Stephen Ross. The plan, which would still need final approval, calls for a $100 million, 400-room Hilton across from CityPlace and east of the convention center, a plot of land owned by the county. Related, which also developed CityPlace, would pony up around $65.7 million of the funding. The county is also hoping to apply for and receive another $8 million in funding through a federal tax credit program. [Palm Beach Post]