Study: Jefferson City conference center to operate at a loss
Jefferson City's new conference center will need hundreds of thousands of dollars to stay afloat.
Sources tell ABC 17 News that a market study found the facility will need a $200,000 to $300,000 annual subsidy. That means the center would operate at a net loss.
It's not clear who would pick up the tab, however the group that conducted the market analysis believes the hotel operator would pay.
The Farmer Holding Group and Ehrhardt Hospitality Group are the two developers in the final round of the proposal process.
The market study recommends the conference center have a hotel with at least 150 rooms, but both developers proposed a 120-room hotel.
The study also states a minimum of 30,000-square feet of conference space would be needed, but Farmer and Ehrhardt only proposed 10,000-square feet.
Jefferson City Council members are set to talk about the new conference center market study at City Hall Thursday afternoon.
Stay with ABC 17 News and abc17news.com for the latest on this developing story.
Copyright © 2013 KMIZ - The Networks of Mid-Missouri. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Report: 76ers oppose lottery changes
Columbia house fire damage estimated at $80,000
Gas prices jump 30 cents in Columbia
Levi Copelin suspended for 2014-2015 season
Two arrested for robbery northeast of Columbia
Jefferson City man charged with 1st degree sodomy
Boone Hospital ranked #4 hospital in Missouri
Missouri reports case of mosquito-borne virus