MAHOPAC, N.Y.-The town closed a deal Monday night to purchase 0.64 acres of property known as Swan Cove on South Lake Boulevard for $1 million. The property will become part of a project that includes a parking lot for the Route 6N business district, as well as the creation of a small passive park on Lake Mahopac that would feature benches, a dock and a bridge that connects it with neighboring Chamber Park.

The Town Board passed the resolution to move forward with the deal with the property’s owner, developer Frank Cotaj, at its March 14 meeting. It also passed a resolution declaring itself the lead agency in the State Environmental Quality Review (SEQR) study and gave the project a negative declaration, meaning the board concluded that the project would not result in any significant adverse environmental impact.

The board also passed a resolution to float a $1 million bond to pay for the purchase. Town attorney Greg Folchetti said that taxpayers could expect to see a $16 to $17 increase in their tax bills over the five-year life of the bond.

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