Developer plans to build resort at Lake Texoma

OKLAHOMA CITY (AP) _ A Connecticut-based developer wants to buy part of Oklahoma's Lake Texoma State Park and turn it into a $350-million resort. <br/><br/>Records show that Gagne Development Company

Wednesday, March 15th 2006, 11:07 am

By: News On 6

OKLAHOMA CITY (AP) _ A Connecticut-based developer wants to buy part of Oklahoma's Lake Texoma State Park and turn it into a $350-million resort.

Records show that Gagne Development Company will pay the state of Oklahoma $14-million over nine years for 750 acres.

Plans include tearing down the existing state lodge and building a 250-room four-star resort hotel, with 33 guest cottages, and an 80-room village inn.

Officials say about $9-million will go to benefit state school children. An official announcement about the resort is planned for Thursdaymorning at the state Capitol in Oklahoma City.

Gagne Development has been involved in projects in the Caribbean and in New York.

The Oklahoma Tourism Department has operated the Lake Texoma park since 1951. It'll continue to offer camping and a swimming beach at Lake Texoma after the sale.