2023-09-26 LQ Press Rlease re Talus Project Status■
FOR IMMEDIATE RELEASE
September 26, 2023
Contact:Marcie Graham
Marketing Manager/Public Information Officer
760.777.7032 Direct 1 760.501.8924 Cell
mgraham@laquintaca.gov
adda
CALIFORNIA
CITY OF LA QUINTA AND MONTAGE INTERNATIONAL REMAINS
COMMITTED TO TALUS PROJECT
September 26, 2023
La Quinta, CA (September 26, 2023): The City of La Quinta and Montage International remain
committed to the TALUS project and continue to stand by the project as developer Robert
Green secures the financing needed to get the project completed. City Manager, Jon McMillen,
and Montage International's President and COO, Jason Herthel, said in a joint statement.
"Throughout the process, myself and City Attorney, Bill Ihrke, have been working closely with
Green and his lenders as loan documents, a contract amendment with the City and due
diligence near finalization," McMillen said.
At this time, the Senior lender is working with Standard and Poor's (S&P) on the bond ratings
required to close the financing.
"This is the critical path for full mobilization and getting the project completed," McMillen said.
City council members have also met individually with lenders and stand confidently behind the
TALUS project and Green.
"Securing and closing financing for a hospitality project of this type and magnitude is extremely
complex and difficult. It is a statement to the quality of this project that financing is nearly
closed," McMillen said.
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78495 Calle Tampico I La quinta, California 92253 1760.777.7000 I www .laquintaca,gov
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September 26, 2023
CALIFORNIA
Montage International and the City of La Quinta remain committed to the TALUS project and
continue to stand by the project as developer Robert Green secures the financing needed to
get the project back on track for completion, Montage International's President and COO
Jason Herthel and City Manager Jon McMillen said in a joint statement.
"Throughout the process, myself and City Attorney Bill Ihrke have been working closely with
Green and his lenders as loan documents, a contract amendment with the City and due
diligence near finalization," McMillen said.
At this time the Senior lender is working with the S&P on the bond ratings required to close the
financing.
"This is the critical path for full mobilization and getting the project completed," McMillen said.
City council members have also met individually with lenders as well and stand confidently
behind the TALUS project and Green.
"Securing and closing financing for a hospitality project of this type and magnitude is extremely
complex and difficult. It is a statement to the quality of this project that financing is nearly
closed," McMillen said.
78495 Calle Tampico I La Quints, California 92253 1760.777.7000 I www.laquintaca.gov