Congress likely to make changes in program tapped for convention center hotel funding
BUSINESS RECORD STAFF May 18, 2015 | 8:30 pm
1 min read time
138 wordsAll Latest News, Government Policy and LawThe U.S. Congress is likely to make changes to an immigration program that will supply the largest chunk of private investment in the proposed $101 million convention center hotel proposed for Fifth Avenue and Park Street in Des Moines, The New York Times reported in an article that focused on the funding mechanism.
Among the possible changes is requiring a larger investment from the foreign nationals who currently can receive green cards and permanent work visas for themselves and their families with a $500,000 investment in economic development projects.
Another change could be the census tract pairing that is used to create areas of high unemployment rates where the investments are to be targeted.
Local officials said it is doubtful the proposed changes would affect the financial package for the convention center hotel.
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