Despite the vote of support, commissioners made it clear they still had reservations about financial details of the plan.
“We’re not exactly throwing the money in the bank today,” Commission Chairman Scott Peters said. “We still have a lot to do.”
The commissioners raised a number of concerns, including:
- How Chula Vista, Coronado, Imperial Beach and Coronado the four other cities in the Port District can reap some of the monetary benefits of the $60 million investment.
- What will happen to the city of San Diego’s level of commitment to the project when Mayor Jerry Sanders is termed out after the 2012 election.
- When the Port will begin making its $3 million annual payment and how soon revenues from the expanded convention center will cover the costs.
- What the worst-case financial scenarios could be and how the city and Port would handle them.
Read the entire Union Tribune article here.
