The convention centre hotel scandal will be tackled in a meeting of Brian Bowman and his inner cabinet on Monday.

A special EPC meeting has been called to discuss what to do about the problems surrounding 220 Carlton St., a parcel of land originally designated for development of a hotel on the land where the former Carlton Inn once stood.

CentreVenture has asked the city to release Stuart Olson, the construction company in charge of the $180-million RBC Convention Centre renovations, from paying out a $16-million holdback after they failed to find a hotel developer for the site at the Carlton Inn.

A $3.75-million settlement for Stuart Olson is on the table, in which CentreVenture, the city's arms-length downtown development agency, would be transferred the money and would take the lead on finding a new developer.

On Wednesday, Mayor Brian Bowman called the handling of the transaction "not cool."

Brand new CentreVenture CEO Angela Mathieson admitted to EPC that the organization entered into discussions with another developer for the land at a time when Stuart Olson was still on the clock.

EPC members were stunned by the revelations and decided to put off making decisions about it until Monday's special meeting.

City bureaucrats are recommending approving the deal, with a few requirements. Whatever developer CentreVenture signs on will be required to start construction within one year, complete the project within two years, and pay a non-refundable deposit of $250,000.

CentreVenture would be required to spend the $3.75 million it received to repay a portion of the loan taken out to buy 220 Carlton in the first place.

And if CentreVenture can't get a development deal signed within six months, the project would have to go to a public bid.

CentreVenture deal