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General News: Town Explores Special Counsel On NYMA

June 15, 2010

The Cornwall town council agreed on Monday night to consider hiring a special counsel to advise it in negotiations for a possible purchase of the New York Military Academy.

At the start of the meeting, only council members Randy Clark and Al Mazzocca favored the move but after hearing from members of the public who urged the council to be pro-active by hiring an attorney who specializes in land use, the council voted unanimously to hear presentations from attorneys about how the town can best purchase the property.

Appraisal, Environmental Review Move Ahead

The town board also formally approved hiring an appraiser to set a fair market value for NYMA. Its value had been set at $10.2 million in the fall of 2007, at the peak of the real estate boom, according to council member Randy Clark. Clark also noted that market values have dropped about 20 percent since then and he would expect an appraisal much closer to eight million dollars. The appraisal process is expected to take three weeks, he said.

The board also ratified its decision to begin an environmental review of the facility and to seek bond counsel approval to make the offer.

Supervisor Says NYMA Trustees May Have to Act


The town council is acting quickly to avoid a closure of the 121-year-old military academy, which could happen as soon as June 30th. Town supervisor Kevin Quigley said he doesn’t know how it will all end up because NYMA still has a cash flow problem and the school’s trustees have to make a decision within a very short time. “”They are going to take necessary action,” Quigley said after the council meeting. “They have to make a decision and there is no doubt that they could be forced into a sale.



Comments:

Absolutely the town must be proactive in this matter. It must also retain a very reputable law firm which specializes in land use and zoning and also represents municipalities. The town must not only look into buying the property but should also at the same time make the property less attractive to other potential buyers by ensuring that no high density housing could be developed. The large tract of land that NYMA sits on should be zoned light commercial on 9W and perhaps residential elsewhere with lots of at least half an acre in the event the property is no longer used as a school.


posted by Bradford Smith on 06/15/10 at 3:18 PM


To all concerned participants:

It is my personal recommendation the Town of Cornwall
see to it that the current New York Military Academy Board of Trustees
transfer Legal Representation of NYMA over to the NYMA 2.0 grp.
Leadership and Resign prior to the NYMA property sale going forward.

The NYMA 2.0 grp. working with their Legal Team will handle the
property sale In Good Faith and can enter NYMA into Legal Reorganization
which has to happen if NYMA is to once again become a healthy
and functional entity.

Reorganization provides asset protection to the primaries involved
when it is expressed that intent to re_emerge as a functional entity is stated.

Current NYMA Trustees plan to turn over the reigns
of power to 2.0 grp. after the sale of NYMA to the Town of Cornwall
and after the current Board spends all the monies received to pay
off debt - which leaves the NYMA 2.0 grp. little to bring about
a re_emerged and successful NYMA.

For any Business planning a functional re_emergence - this is Not how it is done.

Their plan would however, assure the current NYMA Board of Trustees
a Chapter 11 proceeding would not appear on their professional Resumes.

This can still be achieved for them by turning over the reigns to 2.0 grp.
Leadership now, and Resigning.

That is the Best Option Plan for all concerned.

Thank you for your patience and deliberation in this matter.

Wishing the Town and NYMA 2.0 grp. every success -


Brian M.Tourville


posted by brian tourville on 06/17/10 at 11:56 PM

Retrieved off the internet:

Open Letter to NYMA BOT President from former BOT President and Vice President
Share
Friday, May 7, 2010 at 12:34pm


Dear Paul,

Do you recall that the finance committee drafted and passed a ten point resolution reigning in expenses at NYMA?
The resolution called for the reduction of staff,a freeze on new hires and wage increases.
You refused to enforce it.

How many times did I and others vote against a deficit budget?
You and your supporters out voted us, and congratulated each other on a job well done.

How many board members wanted the Superintendent and Business manager held responsible for falling revenues and mounting operating losses?
You extended their contracts, because they were doing such a good job.
If this is a good job, what condition would the school be in if they had done a bad job?

You kept the administration and encouraged discontented trustees to leave.

Past Presidents of the Board knew that spending could not exceed revenue.

If the Superintendent could not manage to contain costs, he should be replaced.
Donations should be used for capitol improvements not operations.

But you knew better, you even sent me a hand book on private school governance.
What does that book say we should do now?

Over the past five years many astute people told you that the School was headed for bankruptcy.
The results of your policies were inevitable.

I'm not sure whether it was arrogance or stupidity, you acted like it wasn't your problem, but certainly made no attempt to change.

You and your supporters are equally responsible for where the School is now.

Bob Mcgowen,Harry Judge,kermit Dyke,Pete Russel, Andy Teller,John Smith and others
gave you their vote and even re elected you when the disastrous financial end was obvious.
They are were enablers and are as guilty as you.

It was not donors or the economy that was at fault .....it was you.

There are over forty families that work and live at the academy,
like many others, they were not aware of the schools financial plight.

They are now suddenly faced with, not only the loss of their jobs but also their homes.
Some have lived at the school for fifteen years, and are literally in tears because they have no where to go and no job prospects.

You preserved ten jobs for a couple of years an lost a hundred jobs forever.

You have let down the Corps,the parents, the faculty, the Alumni and all those future young adults that would have been helped by our beloved Academy.

Your incompetence has destroyed forever an institution that has helped thousands and had endured for one hundred and twenty three years.

I don't think you comprehend the enormity of the calamity your incompetence has created.

If you and your cronies have any sense of decency, you will all resign.

Or better still, you should go back to the donors beg them to reconsider and offer your resignations as an incentive for the donors to re engage.

If they don't accept...resign any way.

respectfully,
John Brugmann,
Former President of the Board of Trustees
NYMA

------------------------------------------------------------------------------------------------------------
Please accept my total endorsement of John Brugmann?s fine letter of this date addressed to Paul Curtin.

We who have worked so hard and long for the Academy are devastated by the results of the mismanagement of the current administration.

We will always cherish and traditions, education and deep friendships we enjoyed at the school, and since our graduations.

Let us hope and pray that some last minute effort can be assembled as John suggests. Otherwise it is ?lights out?

Respectfully,
Richard Lorson
Former 2nd Vice President of the Board of Trustees
NYMA


posted by brian tourville on 06/18/10 at 12:01 AM

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