Ok it sounds like a bad deal but if we own the property ( ignoring wether it will be built) can't we sell it on ebay or something for close to value paid for it, or as much as possible. Also are they still selling the name I vote Viagra convention center.

my vote goes to " the ben dover lancaster convention center".

Don't forget that if the hotel is successful, that PSP has a deal that allows them to buy to it outright at a price that has already been set (one that will no doubt be a bargain at the time). I wonder... does the deal include a clause that allows us (the majority owners) to kick PSP out if they do a poor job of running the hotel we built them?

Other cities have already been in the same situation. NONE has been able to sell their hotel for even the amount of money that was still owed on the construction bonds. A few cities haven't been able to sell their hotel at all, and are still vacant.

No. The PSP holds all of the cards.

Ok Joe I like that name better The Ben Dover Lancaster Convetion Center.