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A group of local hoteliers is threatening to refer to voters the idea of using public money to build a headquarters hotel near the Oregon Convention Center.

For months, Metro has been negotiating with Mortenson Development and Hyatt Hotels over the financing for a $180 million to $200 million facility with at least 600 rooms. Metro officials maintain that they can’t release details until a deal is reached; meanwhile, business professionals are becoming nervous about the potential size of the public tab.

鈥淭he main goal right now is for businesses to get a look at the financing so we can see what’s really going on,鈥� said Paige Richardson, a professional political campaigner who is organizing the coalition of hoteliers. 鈥淚f it was a really great deal, they would be telling us. So there’s something going on here that they’re not sharing with the public.鈥�

Richardson 鈥� who recently was involved in efforts against a casino development plan in Wood Village 鈥� is representing local businesses including Provenance Hotels, the Benson, the Hilton and The Mark Spencer, as well as the Asian American Hotel Owners Association. In November, she contracted Portland law firm Jordan Ramis PC to file a public records request with Metro to obtain information related to the negotiations. The firm requested 84 individual documents; Metro produced just eight, and claimed that the others involved confidential trade secrets.

鈥淚 think we’re very likely to appeal this, and ultimately it will be up to the (district attorney) to determine whether withholding those documents is appropriate or not,鈥� said Jordan Ramis attorney Peter Watts, who submitted the records requests. 鈥淢ost of the documents that we received had already been released to the general public. There was very little new information that we learned 鈥� With as much public funds that are at stake, or that we think there are at stake, which is over $100 million, it would be nice to have as transparent a process as possible.鈥�

Teri Dresler, Metro’s general manager of visitor venues, said the regional government is being open about the process to the extent it is able. On May 28, Metro invited 800 travel and tourism partners who contribute to the area’s rental car and lodging taxes, to an informational update on the dealings.

She said Metro is considering issuing $60 million to $80 million in revenue bonds for the project. To pay it back, the regional government 鈥� in conjunction with Multnomah County and the city of Portland 鈥� would create a new tax bucket, specific to the headquarters hotel, in which transient lodging taxes earned would go directly toward its bond payments. In its original proposal, Mortenson called for a rebate of most of the room taxes paid by guests 鈥� potentially as much as $111 million over 30 years.

Also on the table are a $100 million investment from Hyatt and Mortenson, a $4 million investment from the Portland Development Commission and a $4 million Metro cash grant. In May, Metro Council President Tom Hughes asked the Oregon Legislature to dedicate $12 million in lottery bonds toward the project.

Dresler said nailing down those details while coordinating between three different municipal governments has been a difficult and time-consuming process. She admitted that Metro was too optimistic in its early timetable for negotiations; however, she is hoping that details will be open to public conversation by the end of the summer. Elected officials, she said, also are antsy to learn details.

鈥淯ntil we complete our negotiations, as with any real estate deal, we won’t share any of the negotiation materials until we reach a deal,鈥� Dresler said. 鈥淎nd at that time, when we present the deal for consideration by the elected bodies, we will make that public. So there will be an opportunity for everybody who wants to, to see that information. But you can understand, when you are trying to negotiate with someone, you have to have that confidentiality to have a robust negotiation.鈥�

Details that remain to be answered, Richardson said, include exactly how much bond money Metro is offering the developer, who will repay that sum if taxes don’t cover it, and what will happen if the Legislature denies Metro’s request for lottery funds.

Watts said that next week he will likely appeal to the district attorney in regard to Metro’s decision to withhold its records. Richardson said the group of hoteliers also plans to put a referendum on the ballot if it turns out that the project will require a significant public investment. To do that, she said they would need to collect approximately 11,000 signatures 鈥� an amount equal to 4 percent of the total number of votes cast for governor in Multnomah County.

Dresler said the group’s concerns are understandable, but her frustration is simply that a plan is not set yet.

鈥淭he stress I feel that we’re under is we’re losing business at the convention center, which means we’re losing business for the region,鈥� she said. 鈥淲e’re taking extra time to make sure the project doesn’t blow up on us. I know we’re going to have people that don’t love us. As much as we hate that, it’s just a reality.鈥�