Top of the Hill With the Inn demolition imminent, we thought it would be worthwhile to revisit the journey getting there and the effort of three cottagers who were instrumental in that journey.
As most of you know, the Inn closed in 1991 and remained under the ownership of The Buck Hill Inn Corporation. Subsequently, an investor group took control (though not ownership) via purchase of the mortgage secured by the Inn and the lands surrounding it. The investors were unable to begin any redevelopment as they couldn’t secure clear title to the property due to myriad liens, encumbrances, possible lawsuits, claims, and other liabilities.
Then in 2003, the Inn and the 168 surrounding acres were scheduled to go to tax sale where they would
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Vince Keegan, Jock Miller, and Chuck Rusbasan, all long-time residents of Buck Hill formed Falls Road Funding, LLC (FRF), to purchase the Inn and adjacent parcels, place them under the Buck Hill Falls covenants, and clear the title to the property so the site could be redeveloped in a manner consistent with the remainder of the community. At that time (before the “Great Recession of ’08”), there were a number of qualified developers who had expressed interest in developing the property. Unfortunately, due to forces beyond FRF’s control, by the time the title and other issues were resolved, the market had changed and there were no buyers to be …show more content…
FRF was cautiously optimistic that there might finally be a solution to the issue. Over the past months, as the plan progressed, FRF says, “We could not have been more pleased with the reaction of the community to the plan and the willingness of cottagers to contribute.” FRF is fully on board and supportive of the plan and adds, “We believe that the removal of the Inn and the resulting green space for the community will have made our sacrifices