|By Rich Laden, The Gazette, Colorado
Springs, Colo.McClatchy-Tribune Regional News
September 08, 2010 --A Tulsa, Okla., construction firm said Wednesday it's trying to work out a nearly $25 million dispute with the developer of the 300-room Renaissance Hotel in Colorado Springs, where work is stalled amid the developer's inability to obtain financing to finish the project.
Flintco Inc., the Renaissance's general contractor, said it has partnered with Missouri developer John Q. Hammons on several hotels. Hammons, 91, has built more than 200 hotels around the country over 52 years.
In the Springs, construction began in 2008 on Hammons' hotel and conference center, east of Interstate 25 and InterQuest Parkway on the city's far north side. But after the exterior was finished, work stopped last October. One month earlier, Flintco had filed a $29.3 million mechanic's lien against Hammons, El Paso County records show.
The contractor reduced the lien to $24.6 million earlier this year. Liens are legal claims brought by contractors and subcontractors who haven't been paid or who dispute payment; they can lead to a foreclosure action.
"We continue to work with John Q. Hammons to resolve the situation at the Colorado Springs Renaissance Hotel and conference center," Flintco CEO Tom Maxwell said in a statement. "We are optimistic that we can create a positive solution for all involved." He declined to elaborate.
Hammons' officials didn't return calls Wednesday. In April, Hammons said he was poised to obtain financing to complete the project, but work never resumed. Two Hammons projects also are on hold in Denton, Texas, and Wilmington, N.C., according to news accounts.
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