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.
+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.