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Article: Debt issue planned to add hotel to Chicago convention center.(Metropolitan Pier and Exposition Authority, McCormick Place)
- Article from:
- The Bond Buyer
- Article date:
- March 9, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Metropolitan Pier and Exposition Authority will issue bonds once again in connection with a massive expansion of the McCormick Place convention center in Chicago.
The authority's board approved a plan Tuesday to issue around $100 million of revenue bonds to build a 600-room hotel adjacent to the center, according to Linda Riley Mitchell, the authority's chief financial officer.
She said the new hotel will replace the former McCormick Inn, which was razed two years ago as part of a one-million-square-foot expansion of the convention center, located just south of Chicago's downtown. That expansion was financed with $869 million of revenue bonds sold by the ...