Home Local News CITY COUNCIL EXTENDS WARRIOR FINANCIAL AGREEMENT

CITY COUNCIL EXTENDS WARRIOR FINANCIAL AGREEMENT

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THE PANDEMIC HAS TAKEN A TOLL ON HOTELS IN THE PAST YEAR, LIMITING BUSINESS AND FORCING SOME TO SHUT DOWN.

THAT RESULTED IN THE DEVELOPERS OF THE WARRIOR HOTEL DAVIDSON BUILDING PROJECT TO ASK THE CITY TO PAY INTEREST ONLY ON THE PROMISSORY NOTE FOR THE NEXT TWO YEARS BEGINNING ON JULY 1ST THROUGH JULY 1ST OF 2023.

ON JULY 1ST OF 2023, INTEREST AND PRINCIPAL PAYMENTS WILL BEGIN WITH THE TERM OF THE NOTE EXTENDED TWO YEARS UNTIL JANUARY 1, 2043.

MAYOR BOB SCOTT SAYS THERE IS NO ADDITIONAL FINANCIAL IMPACT TO THE CITY:

WARRIOR OC……..EXISTING AGREEMENT. :03

THE COUNCIL APPROVED THE EXTENSION 4-0 WITH DAN MOORE ABSTAINING.
IT’S THE THIRD AMENDMENT THE CITY HAS MADE TO THE WARRIOR HOTEL AGREEMENT.