City Council to Vote to Approve Tiger Hotel Purchase

9 years 2 months 3 weeks ago Monday, March 07 2011 Mar 7, 2011 Monday, March 07, 2011 7:22:00 AM CST March 07, 2011 in News
By: Reported By: Christina Nicks

COLUMBIA - The Columbia City Council will vote Monday night on whether to approve the purchase of the Tiger Hotel for a prospective buyer. If approved, buyer Glyn Laverick will pay the $4.5 million in full. About $1.5 million will cover hotel rehabilitation costs.

In 2009, the city council approved nearly $2 million in TIF incentives to help finance the project. If the council approves Laverick's ownership, that money will be transferred to him.

Laverick's questionable buying history has raised concerns. He lost a few large-scale historic renovation projects in Canada, and more recently left behind a bankrupt concert promotion business in Marshall, Missouri. Wednesday, Laverick's attorney submitted a 58-page letter to the council reviewing the purchase and arguing for Laverick's ownership of the hotel.

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