Is any of the Villages General fund deficit caused by the convention center?
No. The hotel and convention center get no financial support from the Village’s General fund. The convention center and hotel’s financing was designed to be paid for by revenues from its operations and a portion of the hotel tax, amusement tax and telecommunications tax. Most of these taxes are paid by users of the hotel or visitors to Schaumburg. In return the convention center and hotel generates sigificant economic activity for the local economy. The total economic benefit to the area is positive even though the Village can only capture a portion of the economic activity in the form of taxes and revenue from operations.
