Update on ARISE APA app

ARISE submitted the lease agreement info the APA was looking for on Oct. 5.

Then they submitted an addendum to the lease on Oct. 17 that clarifies the rope tow issue. If ARISE runs the ski area this year, it will have access to using the rope tow.

So the application is complete and the APA is now reviewing it.

One other interesting thing I saw when reviewing the documentation was that Preserve Associates will reimburse ARISE for their expenses in "substantial improvements" to the property. I'm not a lawyer, so I have trouble translating legal writing sometimes, and I can't tell from the lease whether ARISE would be reimbursed within 12 months of the work, or within 12 months before their lease is terminated.

Also this comes in the reimbursement clause: "Landlord recognizes that the Tenant is a not-for-profit corporation and, therefore, agrees to negotiate, i good faith, the amount of any such reimbursement as the sue of the Tenant's funds for the benefit of a private party is limited by law."

I see this reimbursement thing as significant because there has been a ton of work done on the lodge over the last few years. And it's relevant to ARISE's current money problems, I'm sure.

One more thing: I don't usually talk about the train stuff here, but what about that, eh?

Also, interestingly enough, one of the types of train cars the Pullman company has is called the "Adirondack Club." I wonder if it's just a coincidence? I know there's been discussions about the ACR and the train stuff working together on certain things.

Previous Post | Next Post