KIAMESHA LAKE, NY (2006-06-06) A comprehensive long-range master plan for the redevelopment of the former Concord Hotel property into an all-seasons resort was presented today to a joint meeting of the Thompson Town Board and Planning Board.

Our proposal, which has been developed by a world-renowned planning firm, will serve as an invaluable planning tool for the Town to achieve a thoughtful and manageable process for the future development of this key property, said Louis R. Cappelli, Principal of Concord Associates LP, owner of the former Concord Hotel.

This comprehensive master plan will provide the Town and the surrounding community the opportunity to assess the impacts of a major mixed-use project as a whole rather than on a piecemeal basis over a long period of time. As a result, the Town can better plan for future infrastructure improvements. We are hopeful that the Town will move forward with implementing what we believe is the most creative and innovative large-scale redevelopment plan seen anywhere in the Catskill region, Mr. Cappelli added.

We recognize the scope and magnitude of this long awaited project and thank Louis Cappelli for the huge monetary investment along with all the jobs he will bring to the Town of Thompson. This is what you call broadening the tax base, said Town Supervisor Anthony Cellini.

The master plan, which was first discussed in late 2003, calls for the creation of a Planned Resort Development zone for the approximately 1,735-acre property. The new zone proposed by Concord Associates, LP would include:

An already-approved modernization and rehabilitation of the former Concord Hotel into a 1,500-room luxury hotel with approximately 210,000 square feet of convention center and casino space.

Approximately 200,000 square feet of additional convention center space.

Approximately 3,000 residential units including year-round and seasonal multi-family and single-family housing. Approximately 66 percent of the units will be seasonal units, which would have less impact on the school district than year-round housing.

Density would be limited to less than four residential units per acre over the entire site.

•A total of 625,000 square feet of destination and other neighborhood retail space.

•Up to 100,000 square feet of support and meeting space.

•Two championship golf courses The Monster and the International -- along with various public and private recreation areas.

•A new five-star lodge hotel/spa and a new high-end clubhouse facility.

•More than 600 acres, 35 percent of the site, would be preserved as open green space.

Concurrent with seeking approval for the new zone, Concord Associates, LP has also submitted an application for site plan approval for Phase I of the project, which calls for construction of the new lodge hotel/spa and new clubhouse.

The five-star lodge hotel, which would have between 125 and 200 rooms, would feature a 20,000-square-foot spa and restaurant. It would be built on an undeveloped site near the clubhouse on the highest point of the property.

The existing 50,000-square-foot clubhouse would be demolished to make way for a new 63,000-square-foot high-end clubhouse with showers, banquet room, bar and restaurant. The new clubhouse would serve both The Monster and the International golf courses. The architect for the lodge hotel/spa and clubhouse is Gensler, which ranks among the world's largest architecture and design firms, with 28 offices and over 2,000 people.

Sasaki Associates, Inc., an international interdisciplinary planning and design firm, is responsible for creating the master plan for the property.

The redevelopment plan proposed by Concord Associates, LP would provide many benefits to the local economy and regional economy. At full build out, it is estimated the project would generate more than $30 million annually in property tax revenue, of which $24 million would go to the Town of Thompson and $6.5 million to Sullivan County. Of the tax revenue allocated to the Town, $18 million annually would go to the Monticello Central School District. It is also estimated that the project would generate $7.5 million in annual sales and hotel occupancy tax revenue.

The redevelopment plan would also create more than 10,000 construction and new permanent jobs and help fuel the long-awaited renaissance of the Catskill region as a resort destination.