Press-Republican

Local News

July 26, 2013

NCCC plan eyes Hotel Flanagan

(Continued)

MALONE —

He spent $2 million of his own money to clean tons of debris and pigeon droppings out of the site and also secured a $2.1 million grant from the Empire State Development Office’s Restore NY Program in 2007 to build a Best Western Inn and Suites franchise.

But when other financing fell through, the building went into foreclosure.

Stone Mountain Prime LLC purchased it for $500,000 in 2009, with Cositore acting as the local agent for the new owners.

Cositore presented a scaled-down version of the hotel-development plan to the County Industrial Development Agency in May 2012, but no movement has come about with that plan.

Email Denise A. Raymo:draymo@pressrepublican.com

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