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'Grandeur' of Catskills hotel, racino project scaled back17 October 2008KIAMESHA LAKE, New York -- As reported by Times Herald-Record: "The ground is shifting under the biggest project in the Catskills history. "Not only is Concord owner Louis Cappelli changing plans for the $1.1 billion Entertainment City, much of the financing remains up in the air amid the global lending crises, Sullivan County Industrial Development Agency officials said this week. "'They are in a bit of redesign process, which results from a need to scale back the grandeur of the project to cut costs,' attorney Walter Garigliano told the IDA board on Tuesday..." |