Big Tupper Prospects Looking Bleak

Check out the latest.  https://www.adirondackexplorer.org/stories/big-tupper-resort-on-hold-over-legal-and-tax-debts

Nothing shocking to the local populace. And the article doesn't even mention the fat that the ACR hasn't even paid for the land, but that is only $5.2M

I'm surprised a law firm would extend $9m in credit before stopping work.

It's funny (probably the wrong word, maybe ironic or smart) that the lawyers are using the clients appraisal against them in this filing.

Here we have another article documenting these snake oil salesmen. These guys were bullshytting the value of the development at $200 million and the lawyers turned that onto the developers to support the judgement.

For everybody that thinks these guys are positive for the local economy there is this:

"The group is also in default of tax payments owned on six key properties in the project, according to the Franklin County Treasurer’s office. The total owed the county tops $275,000. In May, Preserve Associates lost its ability to make installment payments under a previous arrangement with the county for failing to comply with the deal, said Treasurer Frances Perry."

They have been unable to borrow money from any commercial lenders, the place is miles from anywhere, the cornerstone ski area had barely operated when they first proposed the development, they owe millions and they do not even own the land.

Is anybody really surprised?

Whoever does own the land should let me ski there instead of trying to help this garbage group of grifters profit off of something they don't even own (or give a shit about).

Grifters? Are trump and his cronies involved?

  +1 x10003q.  Although not in favor of this development, I would have preferred a different outcome.  Some years ago after skiing the Lumberjack Scramble, a long-time Tupper Lake resident told me, once they said "your taxes will go down" everyone got goo-goo-eyed and got behind the project.

frk wrote

Grifters? Are trump and his cronies involved?

Greg Norman needs to helicopter in from OZ to fix this thing again.

Always good to see the lawyers screwed. Like they're actually going to get their money.

Benny Profane wrote

frk wrote

Grifters? Are trump and his cronies involved?

Greg Norman needs to helicopter in from OZ to fix this thing again.

Greg Norman visited in 2015, never to be seen again in the North County. What a stamp of approval. I guess he owed somebody a favor. Here is an article from April, 2015:

https://www.northcountrypublicradio.org/news/story/28000/20150408/pro-golfer-greg-norman-shows-interest-in-big-tupper-resort

I'm sure Tennessee Commerce Bank would be glad to lend them money.

How about Trump's favorite, Deutsche bank?

x10003q wrote

Greg Norman visited in 2015, never to be seen again in the North County. What a stamp of approval. I guess he owed somebody a favor.

My guess is that was arranged through Cuomo, for some reason we'll probably never know.

MC2 5678F589 wrote

Whoever does own the land should let me ski there instead of trying to help this garbage group of grifters profit off of something they don't even own (or give a shit about).

Sorry MC but the same group owns the ski area, what a shame. Great little feeder area gone. I'll keep playing all the Lottos and if I win big, Big T will reopen. These shady "developers" only got support from the locals by repeatedly promising to bring the ski area back. Tupper produced a lot of really good skiers and now it's been closed for 20 years so we have a whole generation that hasn't had anywhere decent to ski.

endoftheline wrote

I'll keep playing all the Lottos and if I win big, Big T will reopen.

I think the Adirondack Club and Resort should merge with the Haystack Club.  Now, there's a match made in heaven...or would you believe bankruptcy?

A little more interesting reading.  https://www.leagle.com/decision/innyco20190307389 

billyymc wrote

I'm sure Tennessee Commerce Bank would be glad to lend them money.

endoftheline wrote

A little more interesting reading.  https://www.leagle.com/decision/innyco20190307389

The developers offered a weak defense that was stomped by the judge.

endoftheline wrote

. I'll keep playing all the Lottos and if I win big, Big T will reopen. .

This has been my plan for the last 15 years, but somehow, I haven't won yet.

If ORDA's mission is to empower depressed areas of the state through sports, NY State should buy Big Tupper, sink a couple million into lift, lodge & snowmaking upgrades, then sell it in 10-15 years. Tupper Lake is one of those Upstate NY towns that really seems to struggle (that grocery store across from where they do Woodsman Days is one of the saddest places in the state). I think a huge infusion of money would be pretty effective (more effective than a "Mountain Coaster" at Mount Van Hoevenberg, imo).

They should turn it into a skinners mountain.  Cater to that crowd. It wont do a lot but a lot more than it is doing now.  Little overhead as well.  I think Hickory should be looking at the same type of model.