MONTICELLO – Because of the turmoil in the financial markets, officials of the Cappelli organization asked the Sullivan County Legislature Thursday for permission to use some of the county’s hotel room tax to cover a construction bond for its new Concord hotel project in Kiamesha Lake.

County Legislature Chairman Jonathan Rouis said he is not thrilled with the idea, but if it will help grow the economy, he would support it.

“This is kind of a last resort,” he said. “We understand this project and how it interplays with our future economy. It’s kind of bittersweet. I would like to say we wouldn’t have to do this, but it this is what it’s going to take to make this project happen and realize all the benefits, then we may have to move forward with it.”

Rouis said if the proposal moves forward, state legislation regarding the hotel tax would have to be modified. Right now, an increase in the percentage of room tax revenues is applied directly to promote tourism in the county.