Reconstruction and restoration of the Hacienda Hotel in downtown New Port Richey is expected to begin on July 31st of this year and continue through the end of April 2016, according to a preliminary timeline provided to City Council members last Friday. The dates are meant only as preliminary planning and are not final.
The restoration includes a number of goals, including:
- Replacement of the entire roof to meet hurricane requirements.
- Stabilization of the East wing of the building.
- Demolition of non-original structures and additions, including the removal of two towers.
- Restoration of the Bank Street entrance
- Restoration of the original stairway in the lobby
- Replacement of all windows and doors.
The restoration is part of a deal to restore the hotel and open it as a boutique hotel. The city is joining with father-son investors and developers Yaakov and “Avi” Rosner. The Rosners agreed to supplement a $1 million grant from the State of Florida with their own $2 million in cash to help with the renovations. In the end the City agreed to lease the property to the developers at a rate equal to the property taxes of the building. This gives the hotel a rent-free arrangement while not selling the property outright.
The agreement also included a performance bond, a mechanism through which the City can ensure progress on a project or developers could face financial penalties that benefit the City.
by Jon Tietz
