by Michael C. Lowe | March 23, 2011

San Jose City Council officials unanimously approved bond financing for a $120 million renovation of the city's 143,000-square-foot McEnery Convention Center. The 22-year-old facility brings in about $12.5 million in annual revenue, and would risk losing business to the more modern venues in Santa Clara and San Francisco without the modernization. The project includes $26 million for upgrades and would allow the city to create a fund for general upkeep for the future. A 4 percent hotel-room tax that hotel property owners approved in 2009 will help finance the bond.