HOTEL ROANOKE SALES-TAX BILL GETS HOUSE OK

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, February 15, 1992                   TAG: 9202150177
SECTION: VIRGINIA                    PAGE: A-5   EDITION: METRO 
SOURCE: 
DATELINE: RICHMOND                                LENGTH: Short
HOTEL ROANOKE SALES-TAX BILL GETS HOUSE OK
Plans to renovate and reopen the Hotel Roanoke moved a step closer to reality Friday when the House of Delegates gave final approval to a bill allowing sales-tax proceeds to be returned to the city to help pay off bonds that would finance the project.
The measure, sponsored by Del. Clifton Woodrum, D-Roanoke, was endorsed 91-0. It now goes to the Senate.
Under the bill, only the city of Roanoke would have the authority to divert sales-tax proceeds generated by the facility to pay for bonds. Only publicly owned hotels, convention and conference centers, auditoriums, coliseums, sports arenas and horse and auto-race tracks in the city are eligible.
When questioned by a colleague about horse tracks being able to take advantage of it, Woodrum told the House that the bill was drawn as broadly as possible.
"You and I both know there won't be any horse track built in Roanoke," he added.
The measure would give the city a method of financing the renovation of the Hotel Roanoke into a lodging and convention center. - Staff report
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by Bhavesh Jinadra by CNB