2007 CPEO Brownfields List Archive

From: bobh@np.craigslist.org
Date: 15 Nov 2007 14:34:07 -0000
Reply: cpeo-brownfields
Subject: [CPEO-BIF] Cleanup planned for former resort hotel in Catskills (NY)
 
Concord's owners seek state aid

Times Herald-Record
By Adam Bosch

November 14, 2007

Kiamesha Lake, NY ? Owners of the former Concord Hotel have entered a state
environmental program that could fund 20 percent of cleanup and development at the
1,700-acre site.

Westchester County developer Louis Cappelli and his company were accepted into the
state's brownfield cleanup program in 2005. They filed a draft work plan this month
that detailed removal of possible contaminants from the site where at least two
hotels, a resort and thousands of town houses are proposed.

The draft work plan is a critical step toward Department of Environmental
Conservation approval and the considerable funding that comes with it. Once
approved, Cappelli would be eligible for tax credits on 20 percent of the cleanup
and subsequent development of the site, a fraction that encompasses $30 million to
$80 million, DEC Regional Director William Jameway said.

"The way the program is written, the tax credit can be calculated against both the
cost of cleanup and the cost of the development," Jameway said. "This has been the
source of great controversy statewide."

For the entire article, see:
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20071114/NEWS/711140355

Bob Hersh
CPEO


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