Fla. City Approves $133M Plan For 'Margaritaville' Resort

Law360, New York (September 6, 2012, 4:20 PM EDT) -- Two Hollywood, Fla., agencies greenlighted a new $133 million financing plan on Wednesday night for the stalled Margaritaville Hollywood Beach Resort project, which will see private equity firm Starwood Capital Group come in to the development group.

In a special joint meeting, the Hollywood City Commission and Community Redevelopment Agency Board voted to approve amending an existing development agreement and ground lease for the 349-room resort, with the CRA agreeing to increase its own investment in the project from $10 million to $23 million, the city...
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