The Hood River Urban Renewal Agency has authorized its staff to complete documents to purchase land at the south end of the Nichols Basin as part of a deal reached between Naito Development and Friends of the Hood River Waterfront that would allow Naito to construct a hotel and commercial building while preserving property adjacent to the Basin as a low impact public park.  Mayor Arthur Babitz made the announcement at Monday night’s Urban Renewal and City Council meeting, saying the basic elements for an agreement are in place, and it is now in the hands of lawyers.  The agreement will allow construction of the hotel to proceed, with Naito selling property next to the water that had been at the crux of appeals by Friends of the Waterfront to the Urban Renewal Agency, which will pay for it through property tax revenues from the hotel and convey it to the City for riparian protection and a park that will include the final link to completing a pedestrian and bicycle path on the Waterfront.  Bob Natio of Naito Development said the goal is to open the Hampton Inn hotel by September or October of next year, and start construction on a commercial building that will be moved from its original location this coming spring.  Friends attorney Brent Foster said the agreement would accomplish that group’s goal of preserving the riparian area along the Waterfront.  Babitz says a purchase price will be revealed when the documents are finalized, expected to happen in the next couple of weeks.