Quote:
Originally Posted by Country
Payment for the land, I believe, must be made within 15 business days.
Then, Lake Placid has until November 1st to provide satisfactory documentation that demonstrates their financial ability to excavate the site, build the parking garage, and bring it to grade. At Council, Coun. Paulsen questioned the Nov. 1 date and why it's set so far back. The City Solicitor explained that they asked Lake Placid to suggest the deadline, and give a "worst case scenario" date, so Nov. 1 was put forward.
In his comments, Lobsinger made clear that Nov. 1 is just that - a worst case scenario - he intends to provide such documentation ASAP in order to move forward. Until then, I do believe he's free to do site prep on the land.
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Pardon me, a correction to this explanation -
Lake Placid is not required to pay for the land 15 business days from
now, but in fact 15 days from providing the financial documentation. So, at the latest, they might not be ponying up the 5 million and change until sometime in November.
Of course, Lobsinger has stated he intends to move it along much more quickly than that (a few weeks perhaps?). We'll have to wait and see...