Entertainment City is moving ahead, says Joseph Apicella, senior vice president for Cappelli Enterprises.
“It”™s a very complicated deal, suffice to say,” said Apicella. “Mr. Cappelli is now on Empire Resorts board of directors and we”™re putting together final financing for the project. We”™re confident that within the next four to six weeks, full-blown construction will begin.”
Four former members of the board of directors resigned. Valhalla-based developer Louis Cappelli and three new members have replaced them.
The Concord has already been taken down and the cement foundation poured for the first of two hotels planned for the complex. Original plans called for moving Monticello”™s harness track to the site, but Cappelli is planning his own harness track, leaving the one in Monticello to continue operations.
“The two tracks are going to run on different schedules,” said Apicella. “This will guarantee racing to proceed continuously so the tracks will complement each other.”
According to Cappelli”™s agreement with New York, Entertainment City must be up and running by 2010 in order to qualify for the financial incentives it worked out with the Legislature.
Entertainment City will provide thousands of construction jobs and full-time employment to what was one of the most vibrant hotel and vacation spots outside of New York City. Cappelli has the full support of the town of Thompson and the Sullivan County Partnership and IDA, who see Entertainment City as a way for the Catskills to make an overdue comeback.
