The Dallas City Council approved a $1 billion loan for the expansion of the Kay Bailey Hutchison Convention Center Wednesday ahead of the 2026 FIFA men鈥檚 soccer World Cup.
and is estimated to cost between $3.3 billion and $3.5 billion 鈥� a stark increase from the initial $1.9 billion in 2021.
The $1 billion 鈥渂ridge loan鈥� approved this week will help move the project forward by providing funds needed to enter contracts for design and construction and pay vendors.
Council members voted 13-1 to approve the loan with Cara Mendelsohn voting against and Mayor Eric Johnson absent.
Mendelsohn said she was against the loan because there was no firm budget on the project.
"It's a whole lot different than saying, 'hey, we agree to build something in a park, but nobody's issuing debt without a budget,' except here we are," Mendelsohn said. "And we're not even doing it for a couple million dollars, we're doing it a billion dollars. I mean, this seems pretty outrageous."
and includes the initial funding for the convention center, but that money won鈥檛 be available for another year. Overall, bonds are expected to cover 67% of the project.
The bridge loan will be repaid through those bonds as money is issued through the first half of 2026.
The convention center will be home to the global broadcast operations center for next year's FIFA World Cup. Coverage of the tournament will begin in January 2026, so project planners want construction to begin in July.
Approval of the loan will keep the project moving, Council Member Jesse Moreno said.
"The sooner that we're able to deliver this project, the sooner we will be able to draw in new revenues," Moreno said.
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