Council yesterday tentatively approved a debt refinancing that would help balance the David L. Lawrence Convention Center's books.

The Sports & Exhibition Authority wants to transform $7.7 million in debt into $8.3 million in lower-interest borrowing. Payments would remain the same and the debt would still expire in 2018, but the lower interest rate would allow the authority to net $400,000.

Authority Executive Director Mary Conturo said the savings would bridge only a portion of the $2 million deficit her agency faces. The authority continues to search for other funding sources, she said.

The authority expects to eventually receive $2 million annually in revenue from slot machines, Conturo said.