Urban Renewal Advisory Committee Votes For Granada Extension

The Columbia Gateway Urban Renewal Advisory Committee voted 6-3 to recommend a nine-month extension for Rapoza Development to purchase the Recreation Building and the Blue Building in the Granada Block for a hotel development, which would move the deadline to September 30, 2015.  The majority voted for a plan proposed by member John Nelson which requires Rapoza to provide a $10,000 non-refundable deposit by December 31, and to apply for a hotel franchise by April 30 which would require another $65,000.  Committee members Gary Grossman, Greg Weast, and Linda Miller were opposed.  The group did approve an amendment from Weast to direct staff to prepare a request for proposal for the property should Rapoza not be able to meet the timelines.  Staff had recommended the extension be allowed with a $10,000 deposit at signing, another $40,000 on December 31, a requirement to submit the hotel franchise application by March 31.  Rapoza’s Michael Leash told the committee he believes they are days from signing a seven million dollar term sheet to solicit foreign capital through the federal EB-5 program, and was accompanied by Ryan Schneider of Martin Hospitality, which he described as a potential investor.  The recommendation goes to the urban renewal agency board, made up of The Dalles City Council and Mayor Steve Lawrence, at their next meeting on December 8.

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