We are proud that Michael N’dolo and his Economic Development team are supporting this collaborative effort to help find an appropriate use for the Lake George Forum – one that is sustainable and best supports the community.
REPOSTED from the Post Star
LAKE GEORGE — The Lake George Forum has been valued at $2.3 million, according to a recently completed appraisal of the property, as village and town officials continue to explore redevelopment of the facility into a multi-use event space.
Upstate Appraisal Services performed the appraisal. In addition, three adjoining parcels are valued at about $1 million. They are all owned by the Macchio family, which also owns the forum.
The town and village of Lake George have been considering redevelopment of the property into a space for conferences and community events, and they have hired the MRB Group of Saratoga Springs as a consultant to develop a business plan for the project. The two municipalities are splitting the $15,000 cost and also shared the $2,700 fee for the appraisal.
The original concept was for a music hall and Village Mayor Robert Blais asked Michael N’dolo of the MRB Group whether it was possible to broaden the scope of the facility’s use.
N’dolo told the Village Board at its Dec. 16 meeting that he would encourage multiple uses of the property to make it financially sustainable, according to minutes for the meeting.
N’dolo said the study would take two to three months to complete. His work will not include any design fees but would be a study of whether the project is feasible. It will include a market study of event space, comparison to other venues in the area, likely rental costs and assessment of the financial impact of an operating facility.
READ THE ENTIRE ARTICLE: https://poststar.com/news/local/lake-george-forum-appraised-at-million-redevelopment-studied/article_859f2ed5-0478-5725-8d2f-2603f4d359e6.html