Saratoga Springs polo site: We are before the city planning board for our specific site plan later this month. We've had a breakthrough with a local bank on existing project loans, which allows Saratoga Springs Polo LLC [SPA LLC] to move ahead and get underway. I'll be there, again, the first week of June.
St. Simons Island Ocean Lodge is moving ahead in good form. Bill Ward, Ward Financial, is working with the ownership team to redo the existing project financing to accommodate buyer loans on a basis that makes more sense to a rapid sell out.
Tunisia Sports City: This very adventuresome project, which includes an indoor ski hill and many other sport venues plus lots of condos and fractional condos, continues to pick up steam. The Dubai financing fund is an investor. South Africa's Denise Walker, who is in charge of project marketing, and CEO Tom Stewart are the main kingpins of the deal. Star is to do the sales.
Big Bear Lake, CA: Marina Point, the Marina Village that owner Irv Okovita has spent 20 years getting zoned, is ready for purchase and selling. The property is right on the lake and comes with a marina. Peter Moore, from Corporate Finance Associates, and I will be at the property on May 28th to see about a proposal to purchase the development.
Big Bear Lake, CA: Marina Point, the Marina Village that owner Irv Okovita has spent 20 years getting zoned, is ready for purchase and selling. The property is right on the lake and comes with a marina. Peter Moore, from Corporate Finance Associates, and I will be at the property on May 28th to see about a proposal to purchase the development.
Lots going on as one can see. Star needs to close on at least two if not four of the projects to take us into 2017 and beyond.
