PARC headed for the end

PLATTSBURGH — After nearly a quarter century of working to improve life in the North Country, the Plattsburgh Airbase Redevelopment Corp. is heading for the wild blue yonder.

PARC directors have voted unanimously to officially begin the dissolution process after a deal was struck to sell the last parcel owned by the entity.

"We've teed off and landed on the 18th fairway, and we are just waiting to hit it onto the green," said Bruce Steadman, the acting CEO of PARC.

LAST LOT SALE

The final parcel, an 8.3-acre piece off New York Road behind the Glens Falls National Bank and Trust location, is in the process of being sold to local businessman Geoff Titherington for $500,400.

The sale is contingent upon a state court approving PARC's dissolution plan, which Steadman hopes will happen in 30 to 60 says.

The plan calls for PARC's remaining assets of $512,188 to go toward its debts of $860,031 among 21 creditors.

Several of the creditors agreed to accept less than what they are owed to make up the remaining $347,843.

The most notable discount comes from NBT Bank N.A., which is line to get $393,000 of $480,400 it is owed.

WORKER'S COMP

A debt of $211,766 to the New York State Worker's Compensation Board is also listed but may not need to be paid.

Steadman explained that that was part of a lawsuit by the state over the management of Worker's Compensation funds, in which PARC was caught up several years ago.

That projected debt may or may not become a reality, based on the outcome of the suit, which does not appear to be imminent.

"Nothing is final, and we are still working through this, and we will wait and see what the court says," Steadman said.

"But the bottom line is PARC is done, and we have to go out of business."

$150 MILLION TAXABLE

After the court signs off on the dissolution package, some final legal paperwork with the U.S. Air Force, the former owner of the property, will be the last hurdle.

"We put more than $150 million of property back on the tax rolls over the years, and we are just about there," Steadman said.

With no more property to manage, the need for PARC has evaporated, a goal the community had hoped to reach as soon as possible.

PARC HISTORY

PARC was created in 1994 to head the redevelopment efforts of the former Plattsburgh Air Force Base, which officially closed in September 1995.

PARC featured representatives from the City and Town of Plattsburgh, Clinton County, the New York State Senate and Assembly, the governor and Congress.

It sprang from the Plattsburgh Intermunicipal Development Council, which was created in 1993 when the community first learned that the base would be closing.

PARC has led the efforts over the past two-plus decades to bring business and life to the former military installation, which sits half in the city and half in the town.

RECOGNITION

The redevelopment effort has been lauded nationwide as one of the most efficient transformations of a former military base and has served as a model for other communities.

North Country Chamber of Commerce President Garry Douglas, an original PARC Board member, said the redevelopment of more than 3,500 acres of base property is indeed one of the greatest success stories of base transformation in the nation and a milestone in North Country history.

"When PARC began, there was no set road map, even from other bases, as every region is economically different," Douglas said.

"But all involved saw the opportunity to draw more investment from Quebec, to build upon the success in drawing Bombardier (railcar manufacturer) to create a multi-faceted cluster that is truly blossoming today and to eventually create an airport and air industrial park around the flight line, which is certainly happening."

Douglas said the redevelopment effort has been diverse, which was key.

"From homes for families and our retirees to people boarding planes, going to work at dozens of companies, engaging in recreation and going to school, what the Air Force created has become an amazingly vibrant and diverse part of the community, with great contributions yet to come," he said.

"Congratulations to all who have been part of this amazing process from the beginning to now."

LEADERSHIP CITED

Town of Plattsburgh Supervisor Michael Cashman said the community has embraced the redevelopment effort with bold vision, hard work and determination.

"The former Plattsburgh Air Force Base has undoubtedly gone through a positive transformation," he said.

"I applaud the many leaders and stewards of PARC who re-imagined the former base into part of Plattsburgh’s premier aerospace and transportation identity of today. One of the most notable is the ongoing work at the Plattsburgh International Airport located in our town. There are still many great things to come."

City Mayor Colin Read said PARC has done the job well.

"PARC has done a great job in transitioning our community, and now their work is about done," Read said.

"I'm grateful for the foundation of properties they created for the airport and Town of Plattsburgh."

North Country Congresswoman Elise Stefanik, who listened in to last week's PARC meeting via telephone, said she was proud to take part in the historic meeting.

"She congratulated PARC current and former board members as well as elected officials for their contributions to this significant 23-year redevelopment and their successes redeveloping Plattsburgh International Airport and many area employers, including Bombardier and Wabtec (railcar product supplier)," Stefanik spokesman Thomas Flanagin said.

"She has been a strong advocate for these projects since arriving in Congress and will continue to work her hardest to strengthen the Plattsburgh region."

Email Joe LoTemplio:

jlotemplio@pressrepublican.com

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