- Associated Press - Wednesday, March 19, 2014

OKLAHOMA CITY (AP) - The developer of a planned $750 million resort on Lake Texoma has countersued the Commissioners of the Land Office over the stalled project on former state park land.

Pointe Vista Development LLC alleged this week that the land office breached its contract over the planned four-star resort. In January, the state agency sued Pointe Vista, trying to force the developer to move forward with the project or sell the land back to the state.

The Oklahoman reported Wednesday (https://bit.ly/1fH7fBr ) that Pointe Vista claims the state has held up progress on the development. The developer signed a deal with the land office in 2006 to purchase 758 acres of park land at Lake Texoma for $14.6 million. The sale of an additional 1,022 acres of land known as Area C that Pointe Vista negotiated with the state Tourism Department in 2008 has yet to be finalized because an environmental impact study required by the U.S. Army Corps of Engineers remains unfinished.

“In ignoring its obligations on the second contract involving the purchase of land known as Area C, the State of Oklahoma has stymied development because the purchase of the additional land was the agreed upon trigger for development activity,” Pointe Vista said in a statement.

“The litigation is detrimental to the prospects of this development moving forward and the willingness of other investors to participate,” Pointe Vista said.

In its original lawsuit, the Commissioners of the Land Office alleged that Pointe Vista hadn’t obtained financing for the project or made the necessary utility plans.

“Even though the stated deadline for completion of the hotel and convention center has not yet passed, Pointe Vista’s statements, actions and inaction amount to a repudiation of Pointe Vista’s promise to substantially complete construction of the hotel and convention center by May 28, 2014,” the state’s lawsuit said.

In response to the counter suit, Land Office Secretary Harry Birdwell said the state would continue to hold its ground.

“We have stated our case,” Birdwell said in a statement. “We believe we have an obligation to enforce the contract and will continue to do so.”

Pointe Vista has also asked that the state’s lawsuit be dismissed.


Information from: The Oklahoman, https://www.newsok.com

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