$131M Fla. Resort Project Struggles For Funding

Law360, New York (May 11, 2012, 5:46 PM EDT) -- The developer of a proposed $131 million beach resort in Hollywood Beach, Fla., filed its final plans for permit approval Friday, as it scrambles to secure the necessary funding by a May 15 deadline.

Denying reports that the 349-room project has secured less than half of the necessary financial backing, Margaritaville Hollywood Beach Resort LLC's managing partner Lon Tabatchnick told Law360 that the majority of funding is in place, but that he has asked the city's Community Redevelopment Agency for a bridge loan to ensure the...
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