VIRGINIA BEACH, Va. - The mayor of Virginia Beach says a proposal to build a $109 million hotel with help from the taxpayers should be scuttled.
Mayor Will Sessoms said in a letter to the City Council on Wednesday that next week's public hearing and a scheduled Jan. 24 vote on the project should be canceled. He says the city's financial investment is too great, and it's up to developer Armada Hoffler to come up with a better deal.
According to the Virginian-Pilot ( http://bit.ly/yk4w6W), the current proposal calls for a $67 million initial public investment for a 361-room hotel next to the Virginia Beach Convention Center. The project also would include city-owned meeting space.
Vice Mayor Louis Jones says he believes the deal is dead.
Information from: The Virginian-Pilot, http://pilotonline.com
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