It seems to me like a major restructuring of taxation is a “policy” that can be referred to the voters.  But for Metro, the will of the people won’t stand in the way of a prized development goal:

The Multnomah County commissioners on Dec. 19 approved the funding mechanism for paying down about $60 million in bonds issued to help pay for the hotel. Those revenue bonds would be issued by the Metro regional government and paid off using a tax on Portland hotel stays, which is collected and distributed by the county.

This concerted, determined lack of government accountability in bonding has to end (amazingly, Metro has a write-up that links to the opposition)

According to the opponents of the tax plan, “Taxpayer subsidy for OCC Hotel jumps $100 Million in closed-door sessions $8M to $130M with zero public input.”

I have to learn a bit about the proposed tax changes, but the fact that Metro would challenge the ability to put it on the ballot tells you all you need to know about the perceived public support (or lack thereof) for the hotel.