Oklahoma lawsuit claims Texoma developer has 'completely failed'

The Oklahoma Commissioners of the Land Office filed suit against Pointe Vista Development LLC seeking to force the developer to build a promised four-star hotel on Lake Texoma or sell the associated land back to the state of Oklahoma.
by Brianna Bailey Modified: January 11, 2014 at 3:00 pm •  Published: January 11, 2014

A state agency claims in a lawsuit it filed against Pointe Vista Development LLC that the developer “completely failed” in its efforts to build a four-star hotel on Lake Texoma and should be forced to move ahead with the project or sell the former state park land back to Oklahoma.

In a statement, Gov. Mary Fallin's spokesman said that she and the other members of The Commissioners of the Land Office felt that taking legal action was the only option they had left.

“The legal action they took will move the Pointe Vista issue off high-center and closer to a solution that leads to economic development and allows the state and local residents to fully utilize the area's natural resources and beauty,” Alex Weintz, a spokesman for Fallin said. “The governor still believes the Lake Texoma property has great potential for tourism and job creation for southern Oklahoma.”

The lawsuit was filed late Thursday in Oklahoma County District Court after The Commissioners of the Land Office voted unanimously to sue Pointe Vista in advance of a May 2014 deadline for the developer to have work substantially completed on the hotel.

“Even though the stated deadline for completion of the hotel and convention center has not yet passed, Pointe Vista's statements, actions and inaction amount to a repudiation of Pointe Vista's promise to substantially complete construction of the hotel and convention center by May 28, 2014,” The Commissioners of the Land Office said in its lawsuit. “Among other things, Pointe Vista has failed to obtain financing for the project, necessary utility plans or construction plans for the resort.”

If the court finds that The Commissioners of the Land Office is not entitled to force Pointe Vista to build the hotel, the agency should be allowed to buy back the former Lake Texoma State Park land from Pointe Vista, according to the court filing.

The Commissioners of the Land Office “is prepared to restore the purchase price or so much thereof as Pointe Vista may be entitled ...” the agency said in the lawsuit.

The lawsuit also claims that Pointe Vista should be forced to pay the agency damages for failing to start work on the development as well as pay for any legal fees and other costs in connection with the litigation.

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