Margaritaville timeline

July 30, 2009: Hollywood requests bids to build a hotel resort on the 5-acre city-owned parcel at Johnson Street and the Broadwalk.

April 2010: Commission chooses Margaritaville proposal over Planet Hollywood.

July 2010: Hollywood outlines a finance plan for Margaritaville that includes a $10 million loan from the city's Community Redevelopment Agency to be repaid in 10 years at 5 percent interest.

January 2011: Commissioners approve 99-year lease with Margaritaville. The city will be paid $500,000 a year, with a 3 percent increase annually.

Sept. 5, 2012: Commission approves an agreement with Margaritaville that effectively turns a $10 million loan into a $23 million grant, with another $5 million going toward street improvements. In return, the developer agrees to a 99-year lease, with yearly rent payments increasing from $500,000 to $1 million.

November 2012: Three new members are elected to the commission: Kevin Biederman, Traci Callari and Peter Hernandez. They join Mayor Peter Bober and Commissioners Patty Asseff, Dick Blattner and Linda Sherwood. May 29, 2013: Commission approves an amended agreement that acknowledges Starwood Capital as a partner with developer Lon Tabatchnick and Margaritaville. Rent increases are built into the lease, with payments increasing by 15 percent every five years. Nov, 14, 2015: The Margaritaville Hollywood Beach Resort opens with a concert by Jimmy Buffett. November 2016: The commission changes again, with Josh Levy becoming mayor and Debra Case elected to District 1 seat. April 12, 2018: The resort is sold to private equity firm KLS Capital Partners for $190 million April 18, 2018: Commissioners approve sale of the resort 6-1, with Hernandez voting no. June 12, 2018: Deadline for Hollywood to determine whether taxpayers are owed money on profits from Margaritaville sale.