HARLINGEN — The city of Harlingen and a developer would split the profits generated by a proposed $14 million convention center.
A memorandum of understanding between the city and developer BC LYND Capital reveals details behind the deal to build the 43,700-square-foot convention center.
The non-binding agreement was signed Dec. 17 by Jesse Robles, chairman of the Harlingen Community Improvement Board, and Brandon Raney, manager of the San Antonio-based developer.
The agreement states the city would issue certificates of obligation to fund the design, construction and furnishing of the convention center to include meeting rooms and one or more large ballrooms.
Meanwhile, the agreement states BC LYND would fund construction of an adjacent 150-room upscale hotel to feature food and beverage service while preparing at least three meals a day.
The agreement calls for a hotel such as a Hilton Garden Inn, a Marriott, Starwood or Hyatt.
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