Council to discuss Holiday Inn agreement
The future of the Triangle Project at the corner of Pioneer Trail and U.S. Highway 50 is expected to be decided tonight by the South Lake Tahoe City Council.
The council is scheduled to consider extending an agreement with Holiday Inn Express owner, Charles McDermid and his new group of partners, which are called the Tahoe Hospitality LLC.
The existing agreement, which includes construction of a Hilton Garden Inn and other improvements is set to expire Oct. 1, but McDermid and his partners are hoping to extend that for three years.
“I think as a council we should do everything we can to help support the private developers,” said councilwoman Judy Brown.
“It is important because it is a redevelopment project that will bring revitalization down towards the middle of town, so it is not just at the Stateline area,” Brown said.
The original agreement, which gives right of negotiation but is not binding, was signed in 1997, but was extended in July 1999.
“We don’t want to tie the property up for three years when who knows if someone might come into town with a very good idea and some money,” he said.
This extension would be the third, but would include some modifications to the project and the parties involved.
The plan for the Holiday Inn would now be scaled down to 105 to 110 rooms because of escalating property costs, according to a city staff report.
Some of the original partners, which include Mike and Lori McKeen, want to wait until the Park Avenue Redevelopment Project is complete before participating in the project. The McKeen’s project would have included an upgrade of the property from the Tahoe Bottle company up to but excluding the 7-11. It also included the property where the Jack Pot Inn and Serra Inn were located, which is now owned by the South Tahoe Redevelopment Agency.
These properties could now be included in McDermid’s project if the extension is approved.
What: City Council Meeting
When: Today, 6 p.m.
Where: 1900, Lake Tahoe Blvd.
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