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Finger Lakes Resort developers must secure more funding after receiving state grant

February 12, 2018 07:20 AM

A project that has frustrated many of you is getting a lot of your tax money.

The developers of the stalled Finger Lakes Resort Project on Canandaigua Lake were awarded thousands of dollars of your tax money through a Community Development Block Grant.

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This state grant is for $750,000, but the catch is the developers Bob Murphy and David Genecco must secure the funding they need to finish this long delayed project first.

This project will cost nearly $60 million to complete. Construction stalled in summer of 2015 after financing fell through. The developers have been searching for another way to pay for this project since then. 

City officials helped the developers apply for the Community Development Block Grant because the resort is expected to create at least 100 jobs for low income workers. Those jobs would be in construction, hotel operations, the spa, and the restaurant.

Taxpayers News10NBC spoke to say, while not the best option, if tax dollars need to be used to get this thing finally done, then do it. 

"I'm not opposed to our tax dollars being spent because we need to have this structure completed, knocked down, or something," Jeffrey Waxman said. "I'm really not opposed to anything that could be aesthetically appealing."

Canandaigua City Manager John Goodwin says he's hopeful something will happen with the project sooner than later.

"We know there's still progress going on because some of the financers and attorneys have been contacting us for documents they need from us," Goodwin said. "We're keeping our fingers crossed and hopefully we have something soon."

The Community Development Block Grant expires in two years. If developers fail to secure primary financing by then they will lose the $750,000.

Credits

Kaci Jones

Copyright 2018 - WHEC-TV, LLC A Hubbard Broadcasting Company

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