CWC Board OKs stormwater payments, 6 loans

MARGARETVILLE, NY, May 27, 2005 - The Catskill Watershed Corporation (CWC) Board of Directors on May 24 authorized reimbursement of stormwater control costs for a Windham business and a Lexington summer camp.

The stormwater controls were required under New York City watershed regulations and the CWC helped pay for them through its Future Stormwater Program.

The Board also approved six low-interest loans valued at more than $1.8 million to businesses in Delaware and Ulster Counties.

The Board voted to reimburse Verona Oil Company up to $145,000 for a Stormwater Pollution Prevention Plan and installation of an oil/water separator, roof gutters, catch basins and related infrastructure associated with construction of the company’s new Windham Country Store on Main Street, Windham.

Reimbursement of up to $12,025 to Timber Lake Corporation was approved to help pay for design and construction of an infiltration system for collection and treatment of roof runoff from a new arts and crafts building at Camp Timber Lake on Broadstreet Hollow Road, Town of Lexington.

A $1 million loan was approved for Audiosears Corporation in Stamford to allow the company to purchase outstanding common stock and assure continued local ownership. The firm makes industrial headsets, handsets and component parts and employs 90 people.

Faiga Brussel, owner of 53 Main Street, Delhi, will receive a loan to renovate and expand the building occupied by Good Cheap Foods and The Quarter Moon Café. The relocation of tenant Delaware Opportunities from 53 Main Street to a new building in Hamden will make the expansion possible.

Peak Trading, a Hurley-based supplier of stage rigging and climbing gear, was approved for a loan to refinance existing debt and provide working capital. The company employs 17 people and anticipates adding another 12 workers in the next three years.

Brian Batista and Sara Loughlin will receive a loan to help them purchase Phoenicia Motor Village on Route 28 in Phoenicia. The new owners plan to improve the facilities, which include five cottages and five motel rooms, and revamp promotional materials.

A loan to RSJB Enterprises of Hurley will allow the company to renovate a former church it is purchasing at 151 Sheryl Street and convert it to the Country Meadows Child Care center. The facility will accommodate 42 children and will be run by Lara Schulte and Susan Locilento. It will follow the Montessori educational philosophy.

A loan to Kings Town, Inc. will allow the purchase of a new stone crusher, cone crusher and related elevators for use at the company’s quarry on Route 28, Town of Kingston. Kings Town employs 10 people.

CWC economic development and environmental programs are explained in detail on the corporation’s web site: www.cwconline.org. Inquiries are welcome Monday through Friday from 8 a.m. to 5 p.m. at the CWC’s offices, 905 Main Street, Margaretville, Delaware County, and over the toll-free line, 877-WAT-SHED (877-928-7433).