 |
| May 05, 2024 |
Welcome! Click here to Login
|
 |
|
|
|
|
|
Click to visit the
Official Town Site
|
|
|
|
|
|
General News: No Decision Yet on NYMA's Fate
June 07, 2010
Graduation at the New York Military Academy came and went on Saturday without any decision about whether the 121-year-old military institution in Cornwall will be able to open its doors again next fall. In late April, the school’s board of trustees announced that operations would be suspended after this school year and since then a group of alumni, parents and staff have been working feverishly to find financing to avoid closure.
During graduation day at the campus, trustees met with various parties who have proposed solutions to the financial crisis. Among them was Cornwall town supervisor Kevin Quigley who told the board that the town is exploring the possibility of purchasing the NYMA property then leasing it back to them. The town would have to finance the purchase with a bond that may need the approval of residents before it passes. The town's proposal is perhaps the top idea that the NYMA trustees are considering right now, according to their spokesperson Michael Lopes, who said it is currently the best option for keeping the school open as a military institution.
That bond and other issues associated with the financial crisis at NYMA top the agenda of a town board work session at 7 pm on Monday at town hall.
Representatives of NYMA 2.0, a group of alumni, parents and staff who are trying to rescue the school from closing, were part of the trustees’ discussions this weekend and the group’s spokesperson, Tony Jarrett, said on Monday that many options are still being explored.
“People are working around the clock,” Jarrett said, “everyone is stepping up to the plate and the big question is whether it can be done before we lose more kids.”
Jarrett said that the sale of 35 acres of land owned by the academy on the west side of Route 9W is one option that the trustees are considering but he stressed that it was just one idea among many the group heard from multiple sources.
The trustees are trying to find a solution while the clock is ticking on at least one large loan that comes due at the end of June. In earlier statements the trustees said the school needs $2.5 million by that date. Jarrett noted that some of the deals could take a few weeks or months to realize so everyone involved is trying to speed up the process.
Comments:
No comments have been posted.
Add a Comment:
Please signup or login to add a comment.
|
 |
|
|
|
