State Lawsuit Reveals New Details In Pointe Vista Negotiations - KTEN.com - No One Gets You Closer

State Lawsuit Reveals New Details In Pointe Vista Negotiations

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MARSHALL COUNTY, OK -- New details tonight on the breach of contract suit the state filed over a stalled development project that involves tens of millions of dollars.

The suit filed in Oklahoma County on Thursday reveals new information on negotiations between the Commissioners of the Land Office and Pointe Vista over what's supposed to be a 4-star hotel with condos, restaurants, and lots for homes.

The suit says that during a meeting on Apr. 20, the CLO learned Pointe Vista has yet to obtain construction plans, utility service plans, or financing, and says "it was clear Pointe Vista did not even have a funding source in mind."

The contract for $14.6 million is to buy Area A and Area B, for a total of 750 acres.

But a June letter from Pointe Vista makes clear they also want Area C, the area with campsites around Catfish Bay, which is owned by Oklahoma's Tourism and Recreation Department -- not the CLO.

The letter says Pointe Vista has already paid more than $570,000, including a $300,000 deposit to the Army Corps as part of an environmental impact statement, that has yet to be completed.

The parties discussed building a casino hotel or a limited hotel smaller than the 250 rooms for now, but Pointe Vista says any hotel large or small would require construction of a new $10-million dollar wastewater treatment system, because the existing system needs to be closed.

They add the recession is causing obstacles for hotel funding, pointing to Lake Murray Lodge near Ardmore and the demolished Shangri-La hotel at Grand Lake near Grove.

The lawsuit asks construction start immediately or the contract be cancelled, and for attorneys' fees.

Pointe Vista is due to pay the final $2 million dollars due on Jan. 31. The hotel deadline was coming up on May 27.