 He also argued that, because it would attract more visitors to Dallas, the building of the hotel would lead to a broadening of Dallas' tax base and an increase in jobs and sales tax revenue to the city.In May 2009, he successfully lobbied the City Council to approve spending $42 million to purchase land on which the proposed hotel would be located.The project was financed with $388.2 million in federally-subsidized revenue bonds issued under the Obama administration's Build America Bonds program (which means that the federal government reimburses the city 35% of the interest associated with the issue) and $91.7 million in conventional hotel revenue bonds ($479.9 million total).