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Boards Authorize Extension of Chapter 380 Agreement for Cambria Hotel Restaurant Payment
Summary
Boards approved authorizing the town manager to execute an amendment to the Chapter 380 agreement so the hotel restaurant can receive the previously negotiated economic development grant; staff said the certificate of occupancy issued Nov. 4 triggered the need to extend the deadline to allow payment.
Boards voted to authorize the town manager to execute an amendment extending the Chapter 380 economic development agreement with Northgate Innkeepers (Cambria hotel) so the restaurant portion can receive the previously negotiated grant funds. Staff said the original economic development agreement was negotiated on March 10, 2022, referenced a total grant of $250,000 and that the hotel did not receive a certificate of occupancy until Nov. 4, creating the need to extend the agreement's completion deadline to permit payment.
A staff presenter explained the restaurant is managed by the hotel (providing room service and catering) but is open to the public as a casual dining option. "The certificate of occupancy wasn't issued until November 4," the presenter said, and legal counsel approved the extension at its Nov. 13 meeting. After a motion and second, both boards approved the amendment extension by voice vote.
Board members confirmed no additional funds were requested and staff said all payments were previously budgeted. The motion passed by voice vote; staff will finalize the amendment wording and execute it per board authorization.
