$400M resort OK`d for New York`s Catskills

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$400M resort OK`d for New York`s Catskills
« on: September 08, 2007, 07:59:11 »
A deal has been reached to build a $400 million, 1,400-acre resort complex in New York`s Catskill Mountains, New York Gov. Eliot Spitzer said Wednesday.

The agreement lets developer Crossroads Ventures LLC begin building two hotels, 259 timeshare units, a conference center, a spa and an organic golf course in an environmentally sensitive area adjacent to state-owned Belleayre Mountain ski center and within the New York City watershed, Spitzer said.

Crossroads agreed to scale back the size of the resort -- in Shandaken, about 130 miles north of New York -- and shift all development away from 'the highly sensitive and impaired Ashokan Reservoir basin,' Spitzer said.

The development is projected to create 450 permanent full-time jobs, 150 permanent part-time jobs and 1,800 construction jobs over an eight-year construction period, Spitzer said.

The governor credited U.S. Rep. Maurice Hinchey, D-N.Y., with providing the 'blueprint' for the scaled-back proposal -- which also involved the state purchasing the environmentally sensitive, 1,216-acre, Big Indian Plateau next to the resort for $14 million and adding it to the 'forever wild' state Forest Preserve.