Big Tupper Prospects Looking Bleak

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Big Tupper Prospects Looking Bleak

endoftheline
This post was updated on .
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
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Re: Big Tupper Prospects Looking Bleak

Harvey
Administrator
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.
"You just need to go at that shit wide open, hang on, and own it." —Camp
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Re: Big Tupper Prospects Looking Bleak

x10003q
In reply to this post by endoftheline
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?

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Re: Big Tupper Prospects Looking Bleak

MC2 5678F589
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).
frk
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Re: Big Tupper Prospects Looking Bleak

frk
Grifters? Are trump and his cronies involved?
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Re: Big Tupper Prospects Looking Bleak

Peter Minde
In reply to this post by x10003q
  +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.
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Re: Big Tupper Prospects Looking Bleak

Benny Profane
In reply to this post by frk
frk wrote
Grifters? Are trump and his cronies involved?

Greg Norman needs to helicopter in from OZ to fix this thing again.
funny like a clown
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Re: Big Tupper Prospects Looking Bleak

Benny Profane
Always good to see the lawyers screwed. Like they're actually going to get their money.
funny like a clown
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Re: Big Tupper Prospects Looking Bleak

x10003q
In reply to this post by Benny Profane
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
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Re: Big Tupper Prospects Looking Bleak

billyymc
In reply to this post by endoftheline
I'm sure Tennessee Commerce Bank would be glad to lend them money.
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Re: Big Tupper Prospects Looking Bleak

Benny Profane
How about Trump's favorite, Deutsche bank?
funny like a clown
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Re: Big Tupper Prospects Looking Bleak

Benny Profane
In reply to this post by x10003q
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.
funny like a clown
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Re: Big Tupper Prospects Looking Bleak

endoftheline
In reply to this post by MC2 5678F589
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.
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Re: Big Tupper Prospects Looking Bleak

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

"You just need to go at that shit wide open, hang on, and own it." —Camp
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Re: Big Tupper Prospects Looking Bleak

Marcski
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?
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Re: Big Tupper Prospects Looking Bleak

endoftheline
A little more interesting reading.  https://www.leagle.com/decision/innyco20190307389 
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Re: Big Tupper Prospects Looking Bleak

campgottagopee
In reply to this post by billyymc
billyymc wrote
I'm sure Tennessee Commerce Bank would be glad to lend them money.
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Re: Big Tupper Prospects Looking Bleak

x10003q
In reply to this post by endoftheline
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.
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Re: Big Tupper Prospects Looking Bleak

MC2 5678F589
In reply to this post by endoftheline
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).
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Re: Big Tupper Prospects Looking Bleak

tjf1967
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.
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