Coral Gables hotel, Miami commercial property
According to a letter the city received, The Biltmore Hotel, a, they want to have until July 2012 to pay more than $2.3 million the Coral Gables hotel owes in back rent the City.
Their proposal asks if the Biltmore could begin July 1, 2012 paying $100,000 quarterly. It would take at least 5 years for the Coral Gables hotel to pay back the money it owes since it stopped paying rent in April 2009.
Full article...Biltmore Hotel owes $2M in back rent
