Not really. There are ways to make a hotel happen and still stay out of the primary M3 collections. The city intends to, or perhaps the process is already underway, reimburse the use tax for what was spent on PS in the FY now ending. Best as I recall, the M3 use tax is not specifically dedicated to anything, at this time. If I do recall correctly, the use tax would generate enough to cover a 50-60 million incentive for a hotel, with money left over. Or, perhaps the city could borrow the funds, if needed sooner than can be raised via the use tax, and repay the lender from the use tax. Not suggesting that's the game plan, but it is a possibility.
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