The Lucas County Commissioners and Treasurer Lindsay Webb have a little disagreement over the role the investment firm Stifel should play in the county debt for the hotel attached to the Glass City Center. But the more important problem for the county is why hotel debt has not been paid down at all in five years.

On this big issue no one has done anything wrong, but the entire community has a problem if conventions and tourism do not provide enough patrons to pay debt service from operating income.

Stifel was the underwriter selected to sell $35,955,000 in Lucas County debt that the commissioners loaned to the Lucas County Economic Development Corporation as part of a $64.5 million hotel renovation.

Stifel has earned fees of $408,543 on the annually renewed debt over five years.

It’s a

See Full Page