Hilton Convention Center Hotel
On December 20, 2005, the South Carolina Jobs-Economic Development Authority (JEDA) issued its first Empowerment Zone (EZ) Bond to Vista Hotel Partners, LLC for $22.6 million for the Convention Center Hotel facility, which is located in Columbia, South Carolina.
"The Hilton Hotel, when combined with the Convention Center, will have a dramatic impact on Columbia's economy," said City of Columbia Mayor Robert D. "Bob" Coble. "The conventions and visitors will lead directly to job creation."
John Van Duys, Esq. of Haynsworth Sinkler Boyd, P.A., served as bond counsel and Suzanne Yount of SunTrust Capital Markets served as the underwriting financial agent for this project.
Along with the impact on Columbia as a whole, a large number of employees coming from the empowerment zone. This is JEDA's initial EZ bond, a first for South Carolina and one of only a few in the United States.
"Empowerment Zone Bonds are certainly not easy" said John Van Duys. "I've been working since 1999 on EZ Bonds, ever since the U.S. Secretary of Housing and Urban Development designated the Columbia-Sumter Empowerment Zone. It sure is nice to finally get one closed."
"The bond proceeds enabled our company to create 152 new jobs for Columbia citizens and to finance the acquisition, construction and equipping of an approximately 222-room convention center hotel facility, restaurant and ancillary facilities located in the Vista area in Columbia," said Paul C. "Bo" Aughtry, III, President of Windsor/Aughtry Company in Greenville, SC and a Managing Member of Vista Hotel Partners, LLC. "Without the rate advantages provided by this tax-exempt bond, this project would not have been feasible and therefore would not have been built."
Of the 222 total rooms in the Convention Center Hotel, 21 are luxury suites. This hotel includes 6,000 square feet of meeting space with the largest being a 3,600 square foot banquet room. Also, included is a Ruth's Chris restaurant and associated bar in the hotel (serving over 275 people), an outdoor swimming pool with large pool surrounds for parties and special events, a complete exercise room and a business center.