What's next for Old Adk. building

WILLSBORO-The closure of Old Adirondack is weighing heavily on the minds of the members of the Willsboro Town Board.

"We are very much involved with this," town Supervisor Ed Hatch said at the June 13 meeting of the board. "We have a strong financial interest in the site."

Hatch said that the town was the fifth name listed on the deed to the site, which was built for the wood furniture designer in 2002, based on a list of lien holders in 2008.

The Collateralized Debt Structure of Old Adirondack, Inc., as of Oct. 1, 2008, stated that the town of Willsboro had a mortgage of $730,000 on the property, which Hatch said was paid through grant funds.

"We have the largest amount that is owed on it," Hatch said. "Our amount is more than the other four names listed above us."

Hatch said that when the plant officially closes its doors for all operations on June 17, the town will be given the keys to the site. The building is located at the Willsboro Commerce Park.

"I told them that we can take the keys and keep an eye on the building," Hatch said. "We have almost $800,000 involved in this, so we don't think that we can take this lightly."

Hatch said that eventually, all sides in the matter would have to come together to reach a financial settlement.

"The other creditors will have to come in with the banks and we will have to work together to come up with a plan," Hatch said.

Town DPW Supervisor Pete Jacques asked if there were any future plans for the building, which brought a suggestion from resident Win Belanger.

"I would hope that everyone is thinking about making the building into the school bus and town garage area, because it is needed and the school will have to move their bus site soon and they have the money to make that move," Belanger said.

Vote on this Story by clicking on the Icon


Use the comment form below to begin a discussion about this content.

Sign in to comment