2024-08-01 KESQ (Stahl) Article - TALUS Project Status & DeveloperBy Jeff Stahl
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Published August 1, 2024 9:30 AM
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UPDATE:
Developer Robert Green issued a statement Thursday afternoon challenging Chris George's rights to
the Talus development, contesting George's agreements with creditors, and reaffirming his plans to
recapitalize the La Quinta resort project and finish it himself. Here is his complete statement:
"As stated in our Notice of Termination letter to all participants in the MOU, the MOU automatically
terminated yesterday, July 31, 2024 due to Mr. George's failure to pay off "all", or for that matter,
"any" of the secured creditors, by that date. We spoke to several of the secured creditors in the days
leading up to the termination date, including those who are signatory to the MOU, and several as late
as yesterday at the close of business, and, contrary to statements made by Mr. George to the press,
none of those creditors have had arrangements made with them by Mr. George for their pay off. In
fact several had not even heard from Mr. George in several weeks.
We will now move on from this distraction and delay and get on with the business of recapitalizing
Talus and developing the world-class resort we and our investors, lenders and other stakeholders
have spend over two hundred million dollars to date to bring to fruition."
- Robert Green of the Robert Green Company
ORIGINAL STORY:
The long-delayed Talus luxury resort development in La Quinta is facing another delay as it struggles
to move forward with construction, but its new proposed developer says he's still committed to
building the project.
A memorandum of understanding between the city, financiers, and a new potential developer
Christopher George of CMG Financial gave George the option to pay off all unpaid obligations for the
development by yesterday, July 31.
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