Raleigh City Council Has Extra $12 Million For New Convention Center
Thanks to a new low fixed interest rate on the $192 million...

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Raleigh City Council has an extra $12 million in the budget for a new convention center. That's thanks to a new low fixed interest rate on the $192 million project.

City Council and the Wake Board of Commissioners listened to good news Monday about plans for the new downtown convention center.

Mayor Charles Meeker said, "The tax revenues coming in are above the plan that we had, and in addition we were able to lock in a very low interest rate of 4.76 percent, which also helps the project." That will bring millions of dollars.

"There'll be an additional $12 million that can go into this center and the principal because there's so much less interest being paid."

The 500,000 square foot center will open for business in about three years.

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