Grand Hotel Will Pay City $247,000 in Back Taxes
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The financially troubled Grand Hotel near Disneyland will pay Anaheim $247,000 in delinquent taxes, along with penalties and interest, under a plan approved this week by the City Council.
Anaheim is among creditors of the 242-room hotel, which has been operating since August under bankruptcy protection.
Walt Disney Co. and Hasina LLC, a group led by hotel-motel owner Tushar Patel of Anaheim, have both offered to buy the hotel. A federal bankruptcy judge is expected to approve one of the offers at an April 24 hearing in Los Angeles.
Disney has not announced its intentions for the Grand Hotel and the 11-acre parcel on which it sits. Some officials have speculated, however, that the site could play a role in the company’s plans to build a second theme park next to Disneyland.
Disney purchased the mortgage on the 30-year-old hotel in 1993 and came within one day of foreclosing on the facility in January. The foreclosure was averted when a judge granted the partnership that owns the hotel 90 days to find a buyer.
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