continued “We’re seeking to overturn the Town Board’s decision and reinstate the PDD’s zoning,” Slevin said.
Slevin said the developers had stopped working on construction because “there were such significant economic changes in the country” that cause them to “reevaluate finances of the project.”
She said the developers have already invested $3 million in the Loudon House project, including for water, sewer, gas and stormwater work. She said at the July 26 meeting, BCI President Michael Benson had asked the Town Board to hold off on taking action because he wanted to have “a more direct conversation with the lenders on moving forward with financing the construction.”
“Now, the first conversation with lenders is that the zoning doesn’t permit the completion of the project,” Slevin said. “They’ve made it much more difficult for him to complete (the project) because of change in zoning.”
But Magguilli argued even with the zoning change, Benson still has a valid building permit and “could start working tomorrow” if he wanted to.
“The ball’s in his court,” Magguilli said. “What the Town Board would like to see is the thing completed. That’s their only intent in this. Although we can’t force him to build it, we couldn’t continue to do nothing in light of the residents’ responses.”
Magguilli said the town doesn’t receive too many notice of claims annually, and rarely do they turn to action. He said he’s “not at all” worried about this suit.
“We’re defending it. We have a very good record here,” Magguilli said.
Slevin said the firm is hoping to have resolution by mid-2013.