PORT ANGELES — A waterfront hotel and conference center is closer to reality.
“I”m ready to go!” said Randal Jay Ehm, architect and developer, after he turned in his business plan and “due diligence” information for the $17 million facility to city officials on Friday.
“There may be a few loose ends, but all the financing is in order, all the rest of the paperwork is done — they got it all, on the exact day it was due.”
Ehm, who said he has spent almost $250,000 of his own money so far on the project, wants to start building in July — and open the hotel and conference center in May 2003.
The next move is for three city advisory committees to review Ehm’s material and recommend to the City Council whether the project should proceed.
The council is expected to make a decision in early May.
The project would be funded in part with $2 million in city hotel-motel bed tax money — paid out at the rate of $100,000 a year to the developer over the next 20 years.
——————-
The rest of this story appears in today’s Sunday Peninsula Daily News. Click on “Subscribe” to get the PDN delivered to your home or office.