Its been a while since i posted to my Blog, but we are back and here to stay. For the last several years now the Destiny USA project has been billed as the future of the Central New York Economy but that future grows cloudier by the day with the slowdown in the overall economy. Destiny, billed as a privately financed mega resort, mall entertainment desitnation has laid off a fourth of its workforce all of who were tied to the construction of the phase two Grand Destiny USA. The Hotel is having trouble getting financing in the tightening private captial markets. The entire project earned 30 year tax exemption status-irregardless of whether or not the entire project is ever fully built out. A sweetheart deal for sure!!! The question is whether or not Congel will meet his vision for the Over reaching Destiny project or if he will use the credit crunch as his excuse for cutting his losses and running away with all those tax credits and leaving the taxpayers to foot the bill for the next three decades.
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