Bidder backs out of deal to turn Taku into hotel

JUNEAU, Alaska (AP) – The bidder who planned to purchase Alaska’s ferry Taku and turn it into a waterfront hotel and restaurant in Oregon has backed out of the deal.

The sale of the 352-foot surplus vessel was expected to close in early December. But the winning bidder withdrew, citing factors such as regulatory problems in Portland, said Aurah Landau, a spokeswoman for the Alaska Department of Transportation and Facilities.

Portland resident Jonathan Cohen offered $300,000 for the ferry on behalf of KeyMar LLC in September, the Juneau Empire reported Friday. The group of investors planned to...