DAB Shores City Council to vote Tuesday on Treasure Island agreement
DAYTONA BEACH SHORES — The countdown clock could soon start ticking on the demolition of the abandoned Treasure Island Resort, a longtime beachside eyesore.
The Daytona Beach Shores City Council on Tuesday is slated to vote on the second reading of a development agreement that provides incentives to the property’s owners, New York-based Acres Capital LLC, to demolish the deteriorating remains of the once popular hotel and redevelop the site into a new hotel-condominium complex.
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The vote initially had been scheduled for the Council’s meeting Jan. 25, but it was pushed back a week due to a technicality related to the publication of a required legal advertisement. The agreement now will be considered at a 4 p.m. meeting on Tuesday in the City Council chambers at the Shores Community Center, 3000 Bellemead Drive, Daytona Beach Shores.
If the second reading of the development agreement is approved, the clock will start ticking on a 120-day deadline for demolition of the existing skeletal remains of the once popular Treasure Island Resort. The abandoned property has been a gutted hulk for nearly two decades, since a series of storms damaged the structure in 2004.
This article originally appeared on The Daytona Beach News-Journal: Treasure Island demolition deadline could be set in Daytona Beach Shores
