The heart of the article is this:
"Last September, a state hearing board revoked the storm water discharge permit for the club, saying the DEP [Pennsylvania's Department of Environmental Protection] erred in issuing the permit.For those of you who don't remember this bad-proposal-that-will-not-die, here's how this article summarizes it:
"The board ruled Alpine had failed to prove it considered alternatives to the increased discharge and runoff into the Aquashicola Creek, a high-quality cold water fishery, for which state law permits no degradation.
"Since then, a new plan was submitted by Alpine Rose, and the DEP scheduled the hearing for Thursday.
"The DEP postponed that meeting, saying it was not prepared to issue a draft permit or denial for the public to consider."
"The project features a four-mile road course within a private club on 360 acres near Upper Smith Gap Road in Eldred Township, adjacent to the Appalachian Trail.And this isn't a bunch of yahoos tooling around in their broken-down pick-up trucks: it costs $30,000 to join, plus
"The membership-only club would allow car enthusiasts to drive their own vehicles at speeds of up to 120 miles per hour."
"a one-time $3,000 processing fee. Annual fees are $4,000. On the 10th anniversary of the track, investors are promised a 75 percent return of their initial $30,000 investment. Those leaving before the 10th year will receive 75 percent of their initial investment, and the membership will then be resold by the club. After 500 memberships are reached, the cost of a membership will increase to $38,000, the annual dues will rise and the 75 percent return on the initial investment will no longer be available. Total membership will not exceed 1,200 and no more than 25 cars will be allowed on the track at one time."I'm not great at math, but does that make sense to you? Spend $33,000 now, plus a total of another $40,000 over the next 10 years, for a total of $73,000 in order to get back 75% ($22,500) of the initial $30,000. Seems like I'd not really be making anything on that deal. Maybe they're rich yahoos.
There's a good chronology of events leading up to this postponement in the article. The Sierra Club helped out with the last series of legal battles that were spearheaded by the ATC and the Blue Mountain Preservation Association.
No comments:
Post a Comment