Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City administration schedules Sheraton hotel closing for Nov. 5; council demands public details on nonprofit operator and financing
Summary
The city administration told an Economic Development Committee on Oct. 7 that the purchase and sale agreement for the Sheraton Hotel was executed Oct. 2 and that closing is scheduled for Nov. 5; council members demanded public detail about the nonprofit operator, board membership, IRS filings and debt arrangements.
The City of Memphis administration told the Economic Development, Tourism and Technology Committee on Oct. 7 that a purchase and sale agreement for the Sheraton Hotel was executed Oct. 2 and that closing is scheduled for Nov. 5.
April Gostick, assistant city attorney, reported the agreement date and closing schedule. Committee members asked for more public detail about the structure of the transaction and the nonprofit and operator the administration said would be involved.
Councilwoman Cooper Sutton said community members want to know the identities of nonprofit board members, the nonprofit’s IRS Form…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
