Mason City, Iowa – G8 Development Inc. was set to build a hotel in downtown Mason City, but those plans have since crumbled.
The San Diego developing company filed a lawsuit against Mason City and the Chamber of Commerce Foundation on July 18th for allegedly breaching the contract and for interfering. G8 believes that the Chamber interfered with their contract to build a hotel. They also claim that the Chamber had secret meetings with City Council Members.
The city says that the developers missed three deadlines for the project. The lawsuit accuses the city of adding things that weren’t part of the contract.
Since the fallout between G8 and the Chamber, Mason City has approved a predevelopment agreement with Gatehouse Capital.