Pointe Vista responds to today's deadline for "substantial compl - KTEN.com - No One Gets You Closer

Pointe Vista responds to today's deadline for "substantial completion" of hotel & convention center

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MARSHALL COUNTY -- Today is the deadline set for "substantial completion" of a hotel and convention center at Lake Texoma State Park.

Despite that deadline, there still been no construction at the site.

Pointe Vista Development signed a purchase and redevelopment agreement with the State of Oklahoma in 2007.

The developer made final payment on the $14.6 million deal in January.

Pointe Vista has said the delays are due, in part, to a bad economy.

People who live in the area say the lack of progress is a disappointment.

"It's been a big letdown to this whole area in here," homeowner Ed Talley said. "I think if you can ask any of them that lives this side of Madill and they'll tell you the same thing."

In January, the Oklahoma Commissioners of the Land Office filed a lawsuit against Point Vista Development claiming the developer didn't keep it's end of the deal.

Today, the CLO said it could not comment on pending litigation.

A representative for Pointe Vista Development said in a statement:

“Even though the current litigation with the CLO limits our ability to comment at this time, we are pleased with the judge’s recent decision limiting the sole remedy to specific performance and determining a reasonable time for Pointe Vista to complete the development.  We remain hopeful the legal matters can be resolved so that we can move forward with the development.  We are committed to investing in the project, and while the lawsuit has the potential of delaying the development, we are moving forward with what portions we can,  including iconic improvements to the golf course and construction of a residential development, with stay and play units, to attract residents and tourism.  Once the litigation is concluded, we look forward to proceeding with the entire development including the hotel and conference center.”