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Pier 334 site work advancing; EDC says $500,000 reimbursement loan tracked to the penny
Summary
Developers reported grading, storm‑drain and utility work advancing at Pier 334; the Economic Development Corporation said $500,000 in project funding from 2021 was tracked and that an outstanding $63,468.12 remains to reconcile with a recent land purchase.
EDC and project representatives updated the council Tuesday on progress at the Pier 334 development and reconciliation of a 2021 $500,000 EDC reimbursement arrangement.
Steven Haines, project representative, said grading on the Pier 334 site had started and the team expects grading to finish by July. Haines said subsurface soils required removal of roughly seven feet of material across the hotel pad — a 23,000‑square‑foot area — and that select fill would be imported. He said storm‑drain work and sewer designs will follow grading and that a temporary power pedestal would be installed this week. Encore (a utility partner) has reportedly agreed to remove unneeded overhead poles and supply a plan for burying utilities.
Dr. Smith presented the EDC’s accounting for a $500,000 partnership approved Aug. 6, 2021, saying staff and project partners had tracked each invoice and that the EDC’s outstanding exposure was $63,468.12. The EDC had decided not to purchase an adjacent parcel behind Crossroads Liquor; Haines purchased that parcel and invoiced the project for $85,000, leaving the reconciliation balance staff described in the meeting. Dr. Smith said all invoices are on file and that reimbursements and direct payments were reconciled “to the penny.”
Haines said interior approvals for the Hilton component were complete, permit plans had been filed and that required Americans with Disabilities Act reviews were finished; two model rooms at 102 Jeffrey Circle are under renovation and must be delivered by Aug. 1 to meet Hilton’s FF&E review schedule. Haines also said Lowe’s supplied a consolidated procurement package that locked prices for many fixtures and materials, reducing exposure to tariffs.
No council action was required; staff presented the update as informational and said project permit review comments had been cleared by the city’s reviewer, Bureau Veritas, and vendors will next register for permits and begin permitting steps.
