By Associated Press

Developers say they have secured financing for a major resort at the site of the Tahoe Biltmore in Crystal Bay and hope to begin construction in May.

Boulder Bay was originally approved in April 2011.

The development company had been struggling to come up with financing since winning approval from the Tahoe Regional Planning Agency four years ago and had faced an April deadline to either move forward or let the project permit expire. Terms of the agreement weren’t disclosed.

TRPA approved plans for construction of an eight-structure complex at Crystal Bay offering a mix of uses including a casino, 300-room hotel, health and fitness centers, shops and restaurants.