Announcement expected from Wallace/Bajali

Costa Bajali, of developers Wallace/Bajali, says a major announcement is planned October 31st.

The company has been contracted to build a hotel and parking garage downtown.

The announcement is planned for the Amarillo Local Government Corporation Board Meeting that day.

It will come a day before the November 1st deadline that would allow either the company or the City to walk away from the deal.

Neither entity says they intend to do that.

Time had been lost transitioning from exotic financing plans to a more conventional one.