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Update on Hotel Conference Center discussions and request for public hearing
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Presented By: Kurt Hodgen.
Recommendation and Review
Prior discussions with JMU and the JMU Foundation regarding the Hotel and Conference Center discontinued in June of this year when portions of the financing component of the project could not be worked out in a manner that was satisfactory to Foundation and the City. In recent weeks the two parties have reengaged in discussions about the project and appear to have a tentative agreement on new contract language, subject to final approval of the City and Foundation attorneys.
As such, it is requested the Council authorize the advertisement of a public hearing for October 14, at which time project details and associated documents will be presented to Council and the general public.