TVO Groupe oversees several affiliated companies, including TVO Capital Management, which owns mostly apartment complexes across the United States, and more recently began investing in hotels. Russ Vandenburg has been active in El Paso community organizations, including in economic development organizations, and as a supporter of University of Texas at El Paso athletics.
Vic Kolenc may be reached at ; vkolenc elpasotimes. Facebook Twitter Email. As usual your comments, suggestions and leads are not only useful but also much appreciated. As you already know through my Tweet on Tuesday, city council voted unanimously to terminate the contract with TVO. According to the commentary at city council, Joyce Wilson met with TVO as soon as Leeser let her know he was going to ask city council to cancel the contract. According to Wilson she asked for and received a status report on where the project stood from TVO.
Also, according to the commentary at the meeting, TVO will wind up the contract and deliver a database of all real estate property owned by the city as well as two books of properties that could be sold.
Although Oscar Leeser went out of his way to state that the cancellation of the contract had to do with his decision that the city should be handling the real estate portfolio instead of using a third-party his monologue left open questions as to the true reason for his decision to put this on the agenda.
However, the fact remains that the city will continue to contract with TVO on a case by case basis but the open ended contract is now on a thirty-day cancellation notice period. Many of you asked for more information on Russell Vandenburg. Russell Vandenburg has been a long-time member of the controversial Paso de Norte Group PDNG that has been involved in numerous controversial public policy initiatives including downtown redevelopment.
The land rental agreement to the hotel owners was approved by the UT Board of Regents in and the hotel opened on January 16, Some of you may remember that there was some controversy with sub-contractors alleging that they were not paid for the work they had done on the hotel.
In , TVO announced it had acquired the Cliff Inn property and was going to build a four-story medical plaza in its place. The plaza was supposed to have opened in The apartment complex opened in October When the developers went before city council for approval there was considerable controversy about the development because many in the community felt that they were not included in the discussion.
Some also objected because of the lack of parking and the size of the building for the neighborhood. TVO provided professional real estate service to the city for the purchase of the El Paso Times building and two other buildings. According to the latest lawsuit documents available to me it appears that the judge issued a Default Judgment against Vandenburg on August 20, for failure to appear.
The combined organization was named T he Borderplex Alliance. The focus would now be regional development. Russell Vandenburg is listed as a principal in the loan documents. City View Investors was involved in the medical plaza development where Cliff Inn was formerly located.
On September 11, Russell Vandenburg filed divorce proceedings against his wife. On October 18, ; Martha E. It also prohibited Vandenburg from spending any cash or withdrawing money from any bank or limiting or terminating any credit or charge card in the name of Martha Vandenburg. The TVO companies and the Vandenburgs — who failed to have anyone appear before the court Wednesday on their behalf for a temporary injunction hearing, which ended up being canceled — were not part of the agreement. Russ Vandenburg stepped down Oct.
He said the lawsuit had nothing to do with his resignation. He and his brother founded the TVO companies in A chart attached to the court agreement showed a complicated pyramid of companies and individuals that own Riverchase Landing.
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