David Gibson and Dan Plumley wrote a piercing essay on the Adirondack Park Agency and how it resisted real estate developers 24 years ago. As he notes, it’s particularly relevant in the debate of the recently approved Adirondack Club and Resort in Tupper Lake.
My biggest issue with the development is its financing. If this is such a great project, why aren’t banks falling over themselves to offer financing? The developer hopes to finance the project through bonds sold by the Franklin County Industrial Development Agency. And instead of property taxes, the developer hopes that the “Town of Tupper Lake will approve a Payment in Lieu of Taxes (PILOT) for the first ten years to alleviate the property tax burdens on the developer and buyers.” Yet the municipality will be expected to provide services to the new homeowners.
While I reside in New Jersey, I have roots in northern New York. My grandfather’s family maintained a great camp on Racquette Lake and my grandfather raised his own family in Warrensburg. It’s bucolic up there, but it’s not necessarily an idyllic life. Plenty of families are challenged making ends meet. Yet after the houses are built, I’m wondering what jobs will be left for Tupper Lake residents.