The developer of the Margaritaville Hollywood Beach Resort sued to prevent the municipal government of Hollywood from collecting $1.7 million of the proceeds from the sale of the resort.
Tabatchnick agreed to pay the city 5 percent of any profit from the sale of Margaritaville but told city officials that he and Starwood Capital didn’t make a profit on the sale.
The city contributed at least $23 million to cover part of the development cost.
In a certified letter dated Oct. 15, Hollywood city attorney Doug Gonzalez gave Tabatchnick and Starwood Capital 30 days to pay the city $1,719,962.41.
Tabatchnick and Starwood Capital contend that city officials failed to include a parking garage when they calculated the total cost of the Margaritaville development. [Sun-Sentinel] – Mike Seemuth