Fla. Panels Advance $147M Margaritaville Resort Plan

Law360, New York (May 29, 2013, 10:27 PM EDT) -- After some final negotiations, a $147 million proposal to build a Starwood Capital Group-backed, Margaritaville-branded resort in Hollywood, Fla., snagged several key supermajority approvals from two city panels Wednesday night.

In two votes of 6-1 and 5-2, the Hollywood city commission and community redevelopment agency approved a development and lease agreement with the project’s developer and authorized a funding agreement that will see Hollywood pitch in at least $23 million for the project. The votes, which needed five ayes from commissioners to pass, clear the path...
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