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Richmond city leaders extended the closing date on the $50 million sale of the old Point Molate Naval Fuel Depot to a developer seeking to build a casino.
The extension is the second for the sale originally scheduled for January; the new deal is set to expire on April 20, 2010.
An extension was granted to allow parties more time to negotiate changes to the contract.
“There are a lot of issues out there. None of them to me seem to be insolvable,” said City Councilman Tom Butt, who is seeking a commitment from the developer to keep historic buildings in tact among other issues “Progress has been made in recent negotiations”.
Federal, state and local approval is needed for Developer Upstream Point Molate and the Guidiville Band of Pomo Indians to begin construction on the proposed Point Molate Hotel Casino which would host 124,000 square feet of gaming space, a conference center, 1,000 room hotel, restaurants, shops, tribal headquarters, a shoreline park, trails and ferry service.
If approval is received, the city would receive at least $16.6 million annually under a 20 year agreement.
Not everybody is willing to negotiate; “Stop the Mega Casino” group is opposed to the plan.
The group representing neighboring card clubs that fear competition from a large casino, and has taken measures to convince residents that dealing, loan sharking, poverty and crime will become permanent fixtures if the casino opens.
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