Richmond grants extension for Point Molate casino deal

By Katherine Tam
Contra Costa Times
Posted: 05/18/2010 10:19:54 PM PDT
Updated: 05/19/2010 10:26:56 AM PDT

A proposed $1.2 billion casino-hotel resort pitched for Richmond's waterfront lives on.

Supporters and opponents of the project packed the City Council chamber on Tuesday night, alternately applauding and condemning it ahead of a key decision on whether to extend the closing date on its $50 million deal to sell the former Point Molate Naval Fuel Depot to developer Upstream.

The City Council voted 4-2 to grant the extension after lengthy public testimony and council discussion. The deal was to expire Thursday; it now ends April 2011.

Not extending the contract would open up the city to a potential lawsuit, said Councilwoman Maria Viramontes, who was the swing vote.

Councilman Tom Butt, who backed earlier extensions, said he was frustrated by the pace of negotiations and voted against Tuesday's extension.

"Written commitments were elusive. "... I've run out of patience," Butt said.

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