Holi Corp, leaseholder of the former Holiday Inn site on Navarre Beach, has asked Santa Rosa County Commissioners to approve mortgaging a new hotel at the location in the name of a subsidiary.
Casey Babe sent a Jan. 8 memo to County Administrator Hunter Walker asking for the matter to be placed on the board’s agenda. “(Holi Corp) is requesting to have the future hotel on Navarre Beach mortgaged in TIN, Inc. which is a wholly owned subsidiary of Holi Corp,” he said.
“They do have to obtain our written consent to assign the lease,” County Attorney Roy Andrews said at the board’s Jan. 20 committee meeting. “They can’t mortgage it without our consent,” he said.
Read more in the Jan. 22 issue of Navarre Press or subscribe online here.