Plans to build a boutique hotel in the heart of St George's have been put on the back burner as a result of challenges finding financing.However, Alderman Garth Rothwell told attendees at a town hall meeting in St George's that plans to build a marina on Ordnance Island are moving forward."They were looking for investors in Europe and the United States," Mr Rothwell said. "They came close, but they never got the investors set up."Part of the problem was the cost, which was going to be around a million dollars a room. That's not unusual in Bermuda."We came to the conclusion that the marina stood a better chance than a hotel. We put it out to bidders in January and we did get three tenders."Before the project moves ahead, he said they want to talk to Government about moving the existing ferry terminal from its current location and potential discounts on duty for the importation of materials.Regarding the second hotel project for St George's, Mayor Kenneth Bascome said that when he last spoke to developer Carl Bazarian, he was still intent to move forward on the project.And area MP Dame Jennifer Smith said that the Minister of Tourism would be hosting a public meeting in St George’s next month.UBP MP Kim Swan meanwhile said that according to the lease, Mr Bazarian had to begin construction within 48 months of the demolition of the former Club Med resort. That deadline, he said, passed earlier this year.Mr Rothwell also told the crowd that suggested plans to widen Town Cut to allow the passage of larger cruise ships has been put on the back burner, citing the environmental impact of the project as well as the cost.According to a report on the possibility, the Town Cut would have to be widened by more than 200ft, essentially destroying three Islands at a cost of as much as $78 million."We haven't taken a formal position in the Corporation, but quite frankly, I cannot see that being accepted in any way," Mr Rothwell said.While in past Town Meetings it was suggested that cruise ships could use thrusters to safely manoeuvre the cut, Mr Rothwell said he believed Cruise Ship owners were unwilling to accept that solution because should something go wrong the results for them could be devastating."If the thrusters go and a ship gets stuck, that's $300 billion. We don't mind because we get that hotel we've been asking for," he said.Despite the lack of hotels and cruise ships in the east end, members of the Corporation noted that improved ferry service to the town had resulted in large numbers of visitors to the town, to the extent that congestion in King's Square has become an issue.As a result, Alderman Quinell Francis said the Corporation plan to make several changes, such as not allowing delivery vehicles between 11am and 2pm and requiring minibuses to drop off riders at Ordnance island rather than King's Square or the bridge.