Monday, December 10, 2018

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Hyde Park receives $1 million from developer for Route 9 sewer

Planning Board Chairman Michael Dupree signs site plan for new hotel

HYDE PARK – A proposed sewer system project in the Town of Hyde Park's central business district along Route 9 has received a $1 million boost.

Tom Mulroy, CEO of T-Rex Capital Group presented the sizable contribution to Hyde Park Town Supervisor Aileen Rohr to satisfy the agreement between the town and the developer of "Bellefield at Historic Hyde Park" for sewer mitigation. 

The Bellefield project will have two hotels and a mix of residential and commercial spaces. 

In addition to the presentation of the check, Hyde Park Planning Board Chairman Michael Dupree signed off on the site plan for the 138-room hotel so that a building permit can be issued and the construction can begin. 

Dupree said that the development will create a "gateway" to the town as visitors come north on Route 9.  The five-story building will be the same architecture as the Culinary Institute of America buildings nearby, he said.

Mulroy said that the first hotel should be completed in the first quarter of 2020 now that the rains, which slowed the project for two months, have subsided.

Rohr said that the funding from T-Rex Capital will bring the total funds on hand for the sewer project to $5.3 million.  The total estimated cost for installing sewer lines and a plant between the FDR Presidential Library and the Vanderbilt Mansion is approximately $18 million. 

Rohr is working to create a sewer district in that area.  Property owners in the district would be responsible for financing the remaining $13 million to complete the project that will take approximately three years from now to complete. 

Rohr called it a "viable plan" that has been in discussion for several years.  The supervisor noted that the $13 million will not be financed by all taxpayers in the town but rather just those parcels in the sewer district.  Rohr hopes to have a referendum vote on the project as early as July of 2019.

 


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