Sullivan IDA signs Concord deal
October 30, 2013 —
Now that there are two lawsuits challenging the proposed casino resort at the site of the former Concord Hotel, the way seems clear for the project to go forward.
The Sullivan County Industrial Development Agency (IDA) has announced that it has signed a long-term agreement with EPR Properties (EPR), the entity that controls the property of the former Concord resort. The agreement includes 72 separate parcels with a total of 17,36 acres. Under the terms of the agreement, an EPR subsidiary may begin work on sewer and water mains, roads and other infrastructure.
According to a press release, “The IDA has agreed that current programs designed to provide financial incentives for new development activities that create local jobs will remain available to EPR and its designees at the Concord Resort site for 10 years. EPR and its development partners, in reliance upon these programs, plan to attract up to 1 billion dollars of investment at this location over the next decade. The agreement requires minimum job creation targets be met for the programs to remain in place. Over the next 10 years no less than 1,000 new full-time equivalent jobs are expected at the site.”
IDA Chairman Ira Steingart, who was on the Town of Fallsburg Planning Board for 20 years prior to being elected to the county legislature, was effusive in his praise for the planning documents submitted for the project. He said, “the maps, plans, reports and other submissions made on behalf of the project… are as professional as I have ever seen. This project has set a new planning standard for our area.”
County legislature chairman Scott Samuelson said “The entire Sullivan County community should be proud of the joint effort of the IDA and EPR in concluding a development agreement for this most important project.”
Under the agreement, EPR will select developers for portions of the project, and the operator of the Monticello Raceway and Casino have applied to IDA for development of a hotel, casino and golf resort on 400 acres to be leased from EPR Properties.
Also, EPR has applied to IDA for tax breaks for a water park planned for 135 acres of the site.