Glendale officials delayed action Tuesday on redevelopment plans for the Golden Key Hotel after owner Ray Patel and Americana at Brand developer Rick J. Caruso entered last-minute negotiations about a sale.
Caruso, who is president and CEO of Caruso Affiliated, has been trying to buy Patel’s hotel since December for an expansion of his outdoor mall. Patel previously rejected a $6 million offer for the land.
On Tuesday, the city’s Redevelopment Agency board was scheduled to hear separate proposals by Patel and Caruso for improving the property at 123 W. Colorado St., in the shadow of the Americana.
But board chairman Laura Friedman announced that Caruso and Patel were negotiating in a city hall conference room. At 10:40 a.m. both men returned and presented the board with a letter asking that the hearing be delayed one week.
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