LUBBOCK, Texas (KCBD) – The City Council has set up a new way for the city to pay for expansion of the Lubbock Memorial Civic Center.
It’s through what’s known as a project financing zone. It establishes a 3-mile boundary around the civic center. The city will be able to utilize hotel occupancy tax revenue within that boundary.
For the next 30 years, revenue collected in increments based on this year can go toward the effort to expand, renovate and improve the civic center.
The project will have to start within the next five years in order to benefit from the financing zone.
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