May 22--HOLLYWOOD -- City Hall has a slightly new deal with the Margaritaville developer and will hold a meeting this week to clue in the public.

Residents can ask questions about the proposed changes at 6 p.m. Thursday in the city commission chambers.

"These are not dramatic changes," Hollywood spokeswoman Raelin Storey said. "The documents will reflect the addition of Starwood Capital into the project. That was the reason the delay was requested in April, so all of those documents could be finalized."

Developer Lon Tabatchnick has partnered with Starwood in what is now a $146.7 million project. As part of the deal, Hollywood's redevelopment agency has agreed to kick in $23 million for the Jimmy Buffett-themed venture.

Commissioners are expected to vote on the contract at 5 p.m. May 29. Because city land is involved, the project requires a supermajority vote -- "yes" votes from at least five of the seven commissioners.

Tabatchnick has until July 5 to take possession of the 5-acre oceanfront site. The 17-story, 349-room resort would rise on city-owned land between Johnson and Michigan streets.

He plans to lease the land for 99 years, paying Hollywood $1 million in the first year alone.

Last month, Tabatchnick told Hollywood officials he could not meet the city's April 10 deadline and needed more time to work out a deal with Starwood.

Officials approved the extension 5-2, with Commissioners Traci Callari and Peter Hernandez dissenting.

"None of the changes seem to be drastic," said Hernandez, who met Monday with Tabatchnick.

Instead of paying an increase of 3 percent in rent every year, the developer will pay a 15 percent increase every five years, Hernandez said.

"That's actually a savings to them," he said.

Hernandez has heard from both fans and critics of the project.

"Here's the biggest fear, that the city will get stuck with a project that's half-finished," he said. "And at the end of the day, we wind up paying the bill."

Commissioner Patricia Asseff dismissed the thought.

"I do believe this will be built, and it will be the greatest thing to happen to Hollywood beach," she said. "Once you build a project like this, other people will want to redevelop their properties. Let's not get blurred vision here."

Commissioner Kevin Biederman voted for the deadline extension in April but said Tuesday that he's still not entirely sold on the project.

"I'm concerned because I think the city was giving more than its fair share," he said. "We're not being asked to give more, but we're being asked to adjust our return."

Biederman said that by his estimates, the tweaking of the contract could end up costing the city $1 million.

"I'm on the fence," he said.

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