HUNTINGTON BEACH : Waterfront Project Pay Plan on Agenda
The City Council will have a special meeting tonight to consider technical amendments to the city’s Waterfront Redevelopment Project.
The Waterfront project encompasses land near Beach Boulevard and Pacific Coast Highway. The new Waterfront Hilton Hotel is part of the overall project.
The proposed agreement before the council tonight would allow a different city repayment plan to the major developer, Robert L. Mayer.
Mayer, who built the hotel, is owed $5.6 million for street development and other expenses, city officials said. Mayer and the city’s redevelopment agency is proposing that the council approve a third-party financier to receive the periodic payments from the city.
The meeting begins at 7 p.m.
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