Politics & Government
City Approves Final Steps for New Hotel on Seacoast, Construction Could Begin Next Week
The City Council signs an agreement Wednesday evening that signals construction on a hotel to replace the Seacoast Inn may begin next week. Developers expect to finalize a $14 million loan Monday.
The Imperial Beach Redevelopment Agency approved an agreement in a special meeting Wednesday evening that represents the last steps the city can take for the construction of a four-story hotel on Seacoast Drive.
The disposition and development agreement transfers the property, which the agency purchased last year for about $7 million, from the redevelopment agency to the developer.
It also approves payment for off-site improvements to nearby streets, leases 800 Seacoast Dr. to Pacifica Companies and allows them to purchase the property if certain occupancy standards are met.
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The Imperial Beach City Council also acts as the Imperial Beach Redevelopment Agency.
Project manager Allison Rolfe from Pacifica Companies said the project's building permit was approved by the city Tuesday and a $14 million loan from Wells Fargo should be approved Monday.
Find out what's happening in Imperial Beachwith free, real-time updates from Patch.
Construction could begin sometime next week, she said.
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