Beverly Hills Savings and Loan has been given an additional 45 days to decide if it wants to be an investor in a second Hotel Inter-Continental tower next to the convention center. San Diego port commissioners granted the extension so that the management appointed to run the thrift, after its recent takeover by the federal government because of heavy losses, could decide if it agrees to lease terms for the second tower.
Before the April 23 takeover, Beverly Hills Savings and Loan was close to a deal with developer Doug Manchester to put up $30 million of the $85-million cost of the 800-room second tower. The thrift invested $50 million in the first Inter-Continental tower.
Manchester was to have secured financing for the second tower by Saturday, under an agreement with the port. Ground breaking for the second tower, considered vital to the early success of the convention center, was extended last month to Oct. 1 by port commissioners. It had been hoped that the second tower would open at the same time as the convention center, in the autumn of 1986.