01.29.15

SCHUMER: TWO LANDFILLS ON THE OLD HUDSON RIVER MILL PROPERTY IN CORINTH HAVE STYMIED LOCAL ATTEMPTS TO BRING NEW COMPANY TO SITE FOR TOO LONG – SCHUMER CALLS ON INTERNATIONAL PAPER COMPANY, OWNER OF PROPERTY, TO SELL NON-LANDFILL PORTION IN ORDER TO SECURE BUYER

Corinth is the Site of International Paper’s Former Hudson River Mill; Saratoga Economic Development Corporation Wants to Market Site for Reuse, But Remediation Costs Due to Environmental Liability of the Two On-Site Landfills Continue to Kill Potential Deals

Landfills are Consistent Deal-Breaker For Possible Buyers & SEDC Has Proposed Decoupling Them from Site in Order to Open it Up to Business Development, Job Creation, Capital Investment – Schumer Calls on Int’l Paper to Come to the Table & Find Mutually Beneficial Solution

 

Schumer: Landfills Should Not Hold Back Site of Potential Major Economic Growth

 

Today, U.S. Senator Charles E. Schumer urged the International Paper Company to work with local officials in the Town and Village of Corinth and the Saratoga Economic Development Corporation (SEDC) to decouple two landfills from the site of the former Hudson River Paper Mill that are hindering economic development in Saratoga County. International Paper currently owns the 357-acre property including the mill, which closed in 2002, and has expressed interest in selling to a potential developer.

 

However, because the mill site is tied to two landfills that pose serious environmental liabilities for any company or business looking to move in, every potential deal in the last twelve years has fallen through. Over the years, the SEDC has promoted the mill site as an option for businesses looking to locate in the area, create jobs and spur growth, but time after time businesses have declined to finalize a deal because of the environmental liability these two landfills pose.

 

Schumer is urging International Paper to review the SEDC’s proposal to separate the Hudson River Mill from these landfills, and to work with locals to negotiate an agreement that could allow this unused piece of land to benefit the Town and Village of Corinth and spur local economic growth.

 

“Letting a property with such potential for economic development go to waste would be a travesty,” said Schumer. “The Town and Village of Corinth have been looking for ways to take this former paper mill site and turn it into a hub for jobs, businesses, and economic rebirth, but what’s standing in the way here is the environmental liability any potential buyer would need to assume because of the two landfills located on this site, so let’s separate that problem from the effort to redevelop this site and sell off the non-polluted portion of the property to a willing buyer. This burden has been a deal-killer for the past decade. That is why I am calling on the owner, International Paper, to work with local officials to develop a proposal that would decouple the landfills from the Hudson River Mill, which I am confident would make the site more attractive for a new business to move in.”

 

Schumer explained that the Town and Village of Corinth are home to the former paper factory, the Hudson River Mill. Since the mill closed over a decade ago, the SEDC has promoted the site as an option for businesses looking to locate in the area. However, in virtually every case over the last twelve years, when a deal was about to be struck, the stumbling block was the environmental liability of the two landfills on the site. Schumer explained that the property, which is owned by International Paper, is often seen by potential buyers as a liability due to the two landfills located on its premises. That is why the SEDC has proposed to International Paper the decoupling of the mill site and the landfills. Schumer said there is wide local support for this proposal, but it could also allow International Paper to benefit from selling a site that has been unused for over a decade. The SEDC wishes to bring in new businesses to Saratoga County through this former mill site, which would mean increased capital investment, job creation, and a growing tax base in Corinth.

 

Schumer is urging International Paper to work with the SEDC to find a solution that is agreeable to both parties. The SEDC’s proposal to decouple the property was presented as a starting place for substantive discussions on how both Corinth and International Paper can benefit. The sale of this property to a potential business could create businesses and job opportunities, support existing businesses, and increase the local economy. Furthermore, International Paper would have no further burden of real estate taxes, site maintenance or security costs for the mill site. They would also have limited future environmental related expenses and the expected new landfill closure cost, upwards of $2 million, would no longer be in their hands.

 

SEDC is a private not-for-profit 501(c)3 economic development organization with a 36 plus year history of successfully attracting new business, supporting our existing businesses and developing properties to create job opportunities, increase capital investment and grow the tax base in Saratoga County.

 

A copy of Senator Schumer’s letter to the Chairman and CEO of the International Paper Company appears below:

 

Dear Mr. Mark S. Sutton:

 

I write to urge you to decouple the two landfills from the site of the former Hudson River Mill in the Town and Village of Corinth, New York, allowing the mill to be repurposed for a new business to locate there. The Saratoga Economic Development Corporation (SEDC) has held conversations with multiple businesses that were interested in relocating to the Hudson River Mill, but time after time the businesses declined to finalize a deal because of the environmental liability of the two landfills on the site. I urge you to review SEDC’s proposal about the Hudson River Mill, and to come to the table to negotiate an agreement about this unused piece of land, to the benefit of Corinth’s local economy.

 

SEDC is a private not-for-profit 501(c)3 economic development organization with a 36+ year history of successfully attracting new business, supporting existing businesses, and developing properties to create job opportunities, increase capital investment and grow the tax base in Saratoga County. Since the Hudson River Mill closed in 2002, SEDC has promoted the mill site as an option for businesses looking to locate in the area. However, in virtually every case over the last twelve years, when a deal was about to be struck, the stumbling block was the environmental liability of the two landfills on the site.

 

I strongly believe that the ideas behind SEDC’s proposal provide a positive course for IP to substantially limit its liabilities and responsibilities at the Hudson River Mill site and an opportunity for growth in business, jobs, capital investment, and economic rebirth in Corinth. I hope that you will consider these ideas while you work with SEDC to come to an agreement that will benefit both your company and the local community.

 

I appreciate your review and consideration of the SEDC proposal. Please do not hesitate to contact me or my staff with any questions.

 

Sincerely,

 

Charles E. Schumer

United States Senator

 



Previous Article Next Article