PACIFICA POLICE BUST SHOPLIFTER: DRUGS & STOLEN GOODS
BETTER BUSINESS BUREAU ETHICS AWARDS

HOLIDAY INN MINUS GENERAL CONTRACTOR

Better Business Burro reports that the Holiday Inn Rockaway expansion project lost its general contractor and is looking for a new GC, adding: "The story I heard was that the general contractor from Arizona gave them a very good bid. He was just too busy at the time. They are paying construction loan interest. The real reason why construction was delayed: The appeal to the Coastal Commission slowed the process down. We are pretty much at peak economy; all contractors are booked 6-12 months in advance. The sign on the fence says 'Construction finance by Fremont Bank,' which is a very good construction lender. Very picky about who it does business with. I am surprised the owners didn't go to First National."

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The mechanics lien doesn't specifically mean the general contractor has been fired. I have heard the owners are looking for a new general contractor, but this has not been confirmed.

Thank you for the clarity, Big Banker.

I am sorry to hear that this project has been stalled. An empty lot on that corner is not what we need.

Todd:

Fremont Bank placed a construction trust deed on the property in November 2016. The construction trust deed is for $10,000,000. The owner of the property is RVI Rani Inc. The general contractor is WHY Hospitality.

Apparently, there is a dispute between the owners of the property and the general contractor. The gross amount of the construction contract is $6,300,000. The amount paid to the general contractor is $791,169.55. A mechanics lien was filed in the amount of $500,893.22.

It's a Holiday Inn expansion project. The current owners of the Holiday Inn are expanding it.

It's not the Holiday Inn that is building this project on spec in hopes of leasing it to Holiday Inn. The project is owned by a private citizen. Like so many other projects in town, this one could be suffering from the scourge of undercapitalization. The project owners got all the required clearances needed years ago, and except for demo and some possible plumbing underground, not much has happened. None of this is due to delay; it's most likely due to lack of funding.

"The story I heard was that the general contractor from Arizona gave them a very good bid. He was just too busy at the time. They are paying construction loan interest. The real reason why construction was delayed: The appeal to the Coastal Commission slowed the process down. We are pretty much at peak economy; all contractors are booked 6-12 months in advance. The sign on the fence says 'Construction finance by Fremont Bank,' which is a very good construction lender. Very picky about who it does business with. I am surprised the owners didn't go to First National." (Better Business Burro, posted on Riptide front page)

Well, that's a lot more than I got out of him. As far as I could tell, all the burro said was, "Hee Haw!" Perhaps we should ask the Chamber of Commerce Chicken.

The question is: Why did the Holiday Inn "lose" its general contractor? Did he get lost? Has he gone missing? Did he go out of business? Go to another project? Or did he leave because there wasn't money to pay him?

Does the hotel have saltwater in the basement yet?

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