LYNNWOOD — At a ceremony Tuesday celebrating the start of construction of the new Lynnwood convention center, Mayor Mike McKinnon repeated that city residents will pay no new taxes to build the structure.
The $30 million project, which includes the costs of acquiring the land and $12 million for construction, is being built "without any new taxes for Lynnwood citizens," McKinnon said.
"This will be a premier building in a prominent location," McKinnon said of the site at 196th Street SW just west of I-5. "Let’s get started!"
The 55,000-square-foot building, to open in spring 2005, features a glass and brick entrance and will offer 23,000 square feet of meeting and exhibition space — including nine meeting areas, an exhibition hall, a ballroom for up to 900 people and seating for 1,125.
It is expected to generate $10 million a year in revenue from meetings, conferences and events. It will offer free parking.
Funding comes from sales tax revenues and the county’s hotel-motel tax, said Grant Dull, executive director of the Lynnwood Public Facilities District, which will run the center.
"It will be a landmark building for Lynnwood, and we’ve needed a landmark," City Council Chairwoman Lisa Utter said.
Mike Echelbarger, chairman of the public facilities district, called the project an "economic engine" for Lynnwood.
The convention center will create 80 full-time jobs, represents $13.7 million in yearly economic benefits, $1.3 million in tax money to the city, and an additional 15,000 hotel-room nights for the area, Echelbarger said.
In another five years or so, the city may be able to build a 6,500-seat performing arts center on the property, something the city turned down at this time due to a lack of assets, he said.
"We have land for expansion for something like a performing arts center, a branch college or an Olympic-sized swimming pool," Echelbarger said.
In other news, two additional businesses have signed leases on the site, it was announced Tuesday. Tacos Guaymas of Seattle will open a restaurant in the former Cucina! Presto! site, and Olympus Women’s Spa of Tacoma will open a spa in the former location of the movie theater.
Reporter Pam Brice: 425-339-3439 or brice@heraldnet.com.
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