Big Tupper Prospects Looking Bleak

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endoftheline endoftheline
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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
Harvey Harvey
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Re: Big Tupper Prospects Looking Bleak

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
x10003q x10003q
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Re: Big Tupper Prospects Looking Bleak

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?

MC2 5678F589 MC2 5678F589
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Re: Big Tupper Prospects Looking Bleak

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 frk
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Re: Big Tupper Prospects Looking Bleak

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

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.
Benny Profane Benny Profane
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Re: Big Tupper Prospects Looking Bleak

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
Benny Profane Benny Profane
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Re: Big Tupper Prospects Looking Bleak

Always good to see the lawyers screwed. Like they're actually going to get their money.
funny like a clown
x10003q x10003q
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Re: Big Tupper Prospects Looking Bleak

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
billyymc billyymc
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Re: Big Tupper Prospects Looking Bleak

In reply to this post by endoftheline
I'm sure Tennessee Commerce Bank would be glad to lend them money.
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