MONTICELLO — The Eldred Preserve has sent a request to the County of Sullivan Industrial Development Agency (IDA) to increase their sales tax abatement due to the anticipated increase in cost for the project.

When the Eldred Preserve first applied for benefits from the IDA in 2018, they estimated the cost of the project would be $12 million.

In a letter to the IDA from Dan Silna, owner and member of the Eldred Preserve, the new estimated cost will be $30 million.

They are requesting assistance for the sales tax of—and not to exceed—$1.44 million.

According to the Eldred Preserve the cost increase can be attributed to, “General cost overruns, as well as a number of improvements such as lakefront additions, an equipped boat dock, upgraded furnishings, and additional landscaping.”

IDA Counsel Walter Garigliano said during the meeting that the Eldred Preserve overhauled their budget.

“They are spending more money. And because of our tracking system working, we do not have to do things backward, and we know that their sales tax abatement needs to be extended.”

Another part of the resolution was to amend the project agreement to include a new 2-acre parcel of land. The land to be included is where Sunrise Lake is located.

According to Garigliano, the land will be included in the project but will not receive real estate tax abatements.

“Things that will be built on that parcel will be a dock, some kayak launching mechanism and hiking trails,” said Garigliano.

Silna said in a letter that that land would enable them to put in a dock and boats to be used by the guests who are staying in the Bradstan Boutique Hotel.

According to the resolution, there will be a sales tax exemption on the construction of the dock.

The new Eldred Preserve is the creation of Dan and Joan Silna and will bring three projects together under one roof, The Eldred Preserve, Bradstan Boutique Hotel and The Old Homestead Restaurant.

Bradstan Boutique Hotel was co-owned by County Legislator Scott Samuelson, who is now the Chief Operating Officer for the Eldred Preserve.

The Eldred Preserve is set to open in the Spring of 2020.