GREEN BAY, Wis. (WBAY) - Friday is ten days away from The Hotel Northland's deadline to secure funding that would finally get construction up and running again after a several month hiatus.
This is contingent on the project getting a senior lender.
As we close in on a 60-day extension that was given to KPH Construction by the Green Bay City Council, we haven't yet heard from the company on whether they've secured the funding needed to get back to work.
And if they don't have the money, a former partner and owner tells us he wants back in.
Developer Mike Frantz, who is the initial founder of The Hotel Northland said Friday, "We're prepared to be involved. We've got our plan and financing lined up if in fact the other alternative falls through. And I would love to jump back in if at all possible and under the right circumstances."
When developer mike Frantz left The Hotel Northland project in the last year, a judge ordered Keith Harenda's company KPH Construction to buy him out in order to take over.
Frantz says that hasn't happened.
"The reality is that the ownership was cleared up, but with the contingency that a settlement would be executed, and that that settlement has not been executed yet,” he said.
“You haven't seen a dime?" we asked.
“That's correct," responded Frantz.
The city wants the hotel up and running without getting involved in harenda and Frantz's ownership issue.
"The city is not a party to that that's between Hotel Northland and Mr. Frantz,” said Green Bay Development Director Kevin Vonck. "It's time to make a decision and really push things forward."
We asked Vonck if the city knew whether Harenda had secured a lender. He answered, "I do not know. I think we've been talking with the developer, with all the junior lenders, and what I do know is that we do have some really good options for moving forward and those options are really important for us moving forward in that, one, they get the hotel completed and opened, operating. And they also get the workers back to work and pay the contractors what they're due, and help that project keep moving forward again."
Frantz says if harenda does not come through with a lender, he wants the city to see the success he's having in other cities like Fond du Lac and Wausau.
"In Fond du Lac, a very similar hotel called Retlaw is probably going to be up and running before the Hotel Northland, I guess at this point, and it started four years later. I think that could be resurrected and could happen again in Green Bay but right now we're not involved in it,” said Frantz.
We asked Green Bay City Council President Tom De Wane if The Hotel Northland is ever going to open. He responded, “Yes. Yes, I really believe so because I know that there's people that really want to get it done and can get it done."