Chancellor Livingston, LLC withdraws from Apollo project
March 29, 2012 —
Monticello - Chancellor Livingston LLC, previously designated by the County Legislature as the preferred developer for the East Broadway Redevelopment Project (The former Apollo Mall property and the former Landfill Phase II property) has notified County officials that they are withdrawing from this project. Sullivan County will recognize their withdraw, and the County Legislature will consider options that will move the development of the area forward.
"The Chancellor Livingston project will not proceed further, however, I want to recognize the efforts that the principals of Chancellor Livingston had undertaken to realize a shared vision for the redevelopment of the East Broadway area of Monticello," said Scott B. Samuelson, Chairman of the Sullivan County Legislature.
The County had developed Requests for Proposals (RFP's) after the County obtained title to the former Apollo Mall property through a foreclosure process that followed lengthy court action. Two responders to the RFP presented their vision and proposals for the site. After a number of hurdles were satisfied, the County Legislature recently adopted a resolution that would permit the transfer of title to the Sullivan County Funding Corporation, a move that would provide an environment for the marketing of the area to national retail organizations.
"The County Legislature will consider options that will move the development of the County Seat forward," added Samuelson. "The sustainable economic growth of our County, with positive contributions to the County's sales tax revenues, and meaningful job creation is a top priority for this Legislature," said Samuelson.
"The completion of the improved Exit 106 of Interstate 86/State Route 17 certainly makes the East Broadway area, particularly the former Apollo Mall property and the former Landfill Phase II property in a prime position for development," said Alan J. Sorensen, Minority Leader of the Legislature.
"The redevelopment of the East Broadway area will be a regular subject at the meetings of the Economic and Community Development Committee", said it's Chairman Legislator Ira Steingart. "There should be renewed consideration given to the proposed project that was submitted to the County by Butch Resnick, as well as, the potential of an updated Request for Proposals," said Steingart. "The County will dedicate the resources necessary to move this process forward to bring about the much needed sales tax revenues and job creation that would be associated with the redevelopment of the area," said Steingart.