By Dave Lucas
http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-932039.mp3
Saratoga Springs, NY – The group currently running the Luther Forest Technology Campus wants to continue in that role. Capital District Bureau Chief Dave Lucas attended a press briefing thursday afternoon at the Saratoga County Chamber of Commerce offices in Saratoga Springs.
According to published reports - GlobalFoundries' officials were worried that delays in three remaining infrastructure projects could put the company's 4-point-6 billion dollar Malta computer chip factory in jeopardy. The concern trickled down, and last Wednesday the Empire State Development Corporation met with the Luther Forest Board of Directors, demanding its resignation within 24 hours. The board declined. On Friday, Empire State Development began proceedings to take possession of the Luther Forest Technology Campus. Letters were sent to the Luther Forest Technology Campus Economic Development Corporation seeking repayment of more than $1.75 million in loans that went into repayment earlier this year.
Michael Relyea, President of the Luther Forest Technology Campus Economic Development Corporation, says his group has the money to repay the loans but have yet to decide when and if they will - and in the meantime, they have everything under control. Relyea notes the only reason behind any possible delay involves the withholding of promised payments: he emphasizes it is not LFTC's responsibility to finance those projects, and argues against turning Luther Forest over to the government.
It is being suggested that New York may be eyeing Luther Forest as a way to replenish state coffers. But Relyea is optimistic. He believes it is be better to work WITH the state and understand what their REAL issues are, rather than pointing a finger of blame at any particular entity.