continued June 5, the standoff was all but resolved as the decision was reached for all entities to hold even shares.
“This is a great arrangement,” Lake George Village Mayor Robert Blais said after the vote. “We’ll be bringing the town back in, and we’ll only be dropping five shares.”
Dickinson said he was happy with the new hefty, equal ownership stake, even though it would be costing his taxpayers hundreds of thousands of dollars up front to buy back in.
“I’m excited,” he said. “I can’t believe this change in direction came this fast.”
Chester Supervisor Fred Monroe, who chairs the park's ad-hoc committee, estimated that the town would need to pay from $560,000 to $620,000 to buy back into the project — about $700,00 or so in initial acquisition costs plus subsequent development expenses, minus about $140,000 the town had left invested in the effort, which would be repaid to the Town.