POINTE VISTA TIMELINE
In November, The Commissioners of the Land Office selects Pointe Vista Development, LLC to redevelop a portion of Lake Texoma State Park. The state agrees to sell a portion of the park to Pointe Vista for $14.6 million. Pointe Vista announces plans including a four-star hotel, condominiums, a water park and upscale shops. The development group is led by Chaparral Energy CEO Mark Fischer and Aubrey McClendon, founder of American Energy Partners, LP. In need of extensive repairs, Lake Texoma State Lodge closes in December.
U.S. Reps. Mary Fallin and Tom Cole sponsor a bill to clear up the ownership of 227 acres of Lake Texoma State Park land that the federal government had a claim to, further paving the way for private development. The legislation transferred Lake Texoma shoreline from the U.S. Army Corps of Engineers to the Oklahoma Department of Tourism.
The Tourism Department enters into a contract with Pointe Vista to sell an additional 1,022 acres of parkland at Lake Texoma known as Area C.
Pointe Vista tells Marshall County officials that the development will generate more than $500 million in new tax revenue for the area over 25 years. Marshall County officials approve a more than 2,000-acre tax increment financing district for the Pointe Vista area, to help generate up to $330 million to fund water, sewer and other infrastructure improvements on the site.
Pointe Vista tears down about 22 cabins along the lake.
In February, The Commissioner of the Land Office sends a letter to Pointe Vista Development asking for more information on when construction on a hotel will begin at the site. Pointe Vista said that it has struggled to find financing for the project. After meeting in closed session at its June meeting, The commission announces it will spend up to $250,000 to hire outside legal counsel to represent the state's interests in the Pointe Vista Development. In December, the Commissioners of the Land Office votes unanimously to take legal action against Pointe Vista over the lack of progress on the development.
In January, The Commissioners of the Land Office files a lawsuit against Pointe Vista, claiming the developer has failed to make adequate progress on the construction of a 4-star hotel, as outlined in a development agreement with the state. The CLO seeks to force Pointe Vista to move forward with the development, or sell the former parkland back to the state.