Preliminary Oak Marsh Hotel Agreement on Council Agenda

The Oakdale City Council is scheduled to vote Tuesday on a preliminary development agreement with Fairway Suites, the Missouri-based company that wants to develop a hotel on city property at .

The agreement would indicate that the city will work with Fairway Suites and whichever hotel company is interested in the site toward a final development agreement, according to a staff report.

Stipulations of the drafted agreement, according to the report, are that:

• The agreement terminates no later than Dec. 31, 2012.
• The developer agrees to pay all costs incurred by the city to review the proposal.
• The developer agrees to complete construction of the hotel by Dec. 31, 2013.
• The city agrees to work in good faith to cure title, environmental or soil objections.
• The annual lease payment from the hotel owners will be $36,000 or 1.25 percent of hotel gross revenue, whichever is higher.

Council members are scheduled to consider the preliminary development agreement at their regular meeting at 7 p.m. Tuesday, Jan. 10.

At a workshop prior to the meeting, the council is scheduled to talk about the design and location of a garage near the , and hear a presentation on the Gateway Corridor.

See the agendas for Tuesday’s Oakdale City Council meeting and workshop in the photo section of this article.