GREEN BAY – A new owner is expected to improve The Hotel Northland property in Green Bay, which alternatively might be headed for foreclosure, under a deal the Green Bay Common Council approved July 21.
The agreement, if realized, would provide $1 million to the City from lender Octagon Credit Partner LP while releasing the hotel’s owner, 304 North Adams Green Bay LLC, from about $2.6 million in financial obligations, including mortgage, rents and leases and other financing agreements.
The council voted to approve the agreement after a 40-minute closed-session meeting to discuss related strategy…