Remember when a shiny new convention center was supposed to salvage Pittsburgh's ailing economy? Like, er, yesterday? Looks like that might not pan out, according to today's Post-Gazette. In part, the paper is reporting:
Allegheny County Controller Mark Patrick Flaherty assailed the authority that runs the David L. Lawrence Convention Center, saying at last night's County Council meeting that it is approaching "financial disaster."
The Sports & Exhibition Authority faces a $2 million deficit and yesterday won council's approval to undergo a debt refinancing that would help balance the books at the convention center, but not before some council members joined Flaherty in scolding the authority for relying on projected annual revenue from slot machines when drafting its budget.
"This is usually the first sign of financial disaster," Flaherty said. "That's ridiculous, to put [gambling money] in there and say they've balanced their budget. Enough is enough."
That, of course, is a pipe dream. Enough is NEVER enough for these facilities. Look at Balimore, where the city is all of a sudden building a $305 million hotel designed to save the convention center that was supposed to "revitalize" downtown on its own but didn't.
How long before people in Pittsburgh start making the same arguments? "Come on," they'll plead. "How can we compete without a hotel? It's not fair. Build us a hotel and and we'll be rolling in it. OK, no one is willing to invest in one. But we have already poured a gazillion dollars into the thing. What's a few more zeroes? It's all about synergy."
Yeah? Well, that's absurd. It would be throwing good money after bad. And it could be on the table soon. So prepare yourself.