Golden gets additional time to secure money for resort

The V.I. Daily News is reporting:

ST. THOMAS - The Public Finance Authority on Monday gave New Jersey-based developer Paul Golden additional time to get his finances in place for the $120 million resort and casino he plans to build on St. Croix's south shore.

The PFA governing board's members voted unanimously to extend Golden's deadline to April 5. If Golden's company, Golden Gaming, misses the new deadline, he risks losing out on the V.I. government's guarantee of an additional $32.5 million investment in a 12,000-square foot convention center proposed for the resort.

The government funding hinges on whether the company can line up 80 percent of the financing to complete the resort project, which includes a 400-room hotel, a spa and an 18-hole golf course near Great Pond.

There is a lot of interesting stuff in the article, with Golden hinting that he has lined up a major hotel name to manage the property. I don't know if I would trust comments like that but you never know.