CWC approves purchase of historic inn

MARGARETVILLE, N.Y., July 5, 2007 - The Board of Directors of the Catskill Watershed Corporation (CWC) on June 26 authorized the purchase of the former Delaware Inn in Stamford which will be the pilot project for a new program to rehabilitate historic structures and return them to commercial use.

The Board approved the purchase of the property from sisters Madeline Hitt and Laura Thonnesen through a CWC subsidiary which will own the building while it is being renovated. The subsidiary will make payments in lieu of taxes while it owns the structure; once renovations are completed, the building will be sold to a credit-qualified buyer who develops an acceptable business plan and agree to program conditions.

CWC’s Business District and Historic Structure Rehabilitation Program is intended to rehabilitate to viable commercial and mixed-use deteriorated buildings in business centers and gateways of Watershed communities.

Dadras Architects of Liberty, consultants to the CWC, are preparing the renovation/restoration plans for a modernized hotel and conference center at the venerable Delaware Inn. The building will retain the historic integrity of the imposing structure, a Main Street landmark for nearly 200 years.

In March 2007, the CWC Board approved a loan to RAC Realty to assist with a refinance, renovation and upgrade project on property at 60 Main Street, Stamford, next door to the Delaware Inn. Plans include a restaurant on the ground floor and eight apartments on the second floor, which will be renovated with a grant from Western Catskills Revitalization.

Said CWC Executive Director Alan Rosa, "CWC is pleased that Madeline Hitt and her sister Laura Thonnesen have agreed to make the Delaware Inn available for our first Main Street and Historic Building project. We are confident that a revitalized Delaware Inn, in conjunction with the implementation of the visioning project currently underway in the Village, will create a destination community, improve the local economy and refurbish Stamford’s title as "The Queen of the Catskills".

For more information on economic development and other programs of the CWC, go to www.cwconline.org.