October 5, 2017
Dear Moratorium Committee Members and residents of Penfield:
I would like to provide an update on the Town of Penfield’s actions to purchase the Shadow Pines golf course from Dolomite/Oldcastle as recommended by the Shadow Pines/Shadow Lake Community Moratorium Advisory Committee.
On September 29, 2017 the Town of Penfield signed a Letter of Intent for Purchase and Sale of Real Property Shadow Pines Golf Course.
Both parties are working now to complete a Purchase Agreement. Based on the Letter of Intent, we are looking to complete the process in 30 business days or less from the date of execution, September 29, 2017.
The Town of Penfield is working to complete SEQR environmental review. We are also in discussions with bond counsel and financial advisors.
I will provide updates on our progress as we hit key milestones.
To learn more about The Shadows go to http://www.penfield.org/Golf_The_Shadows.php .
R. Anthony LaFountain
Penfield Town Supervisor