Dallas is antsy to get moving on its $3.5 billion convention center redevelopment; so much so, the town is considering a $1 billion bridge loan from JP Morgan Chase to move the project along. The Dallas Business Journal reports the city says the billion-dollar loan isn’t a shortfall of funding, but interim financing needed until the city can take out its long-term debt on the project. The loan will be used to award contracts, pay vendors as invoices come in.

A city finance spokesperson said he anticipates the city will be able to issue its full $2.2 billion projected debt insurance by June 2026 and then would retire the interim loan. The primary source of funding for the first component of the convention center project will come from the local hotel occupancy tax, the additional 2% hotel occupancy tax and a project financing zone. There are a handful of other funding sources.

The redevelopment project will include increasing the total sellable space in the complex to about 1.03 million square feet.