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The current plan for the Preserve at Historic Cornwall Village includes 590 homes to be built along with the hotel, water park, marina and other lake-based recreation areas and facilities. The developer, Haines & Kibblehouse Inc. of Skippack, Montgomery County, owns the property that is situated around a water-filled quarry that was once the site of iron-ore mining associated with the Cornwall Furnace and later Bethlehem Steel.
The financial-impact study was commissioned by Haines & Kibblehouse. It was done by Glackin Thomas Panzak Inc. of Paoli, Chester County.
Currently, the parcels that comprise the site are assessed at $137,000, which brings a combined annual total of $13,300 in taxes to the borough and the school district, the study shows. However, an estimate of the assessed value when the project is completed shows a total of $33.8 million, which could bring a possible $206,000 to the borough and $1.67 million to the school district.
Borough Council president Carl Hilton says he cannot confirm or deny that the numbers presented in the study would be what the borough and school district would receive if the project is approved, but any additional revenue would be useful.
"Any money would be certainly welcomed money, but by the same token, residents are not 100 percent concurring that they want this project," Hilton said.
Amy Wissinger, a spokeswoman for Cornwall-Lebanon School District, said while the district has been following the development project, it has no comment at this time.
Additionally, 2,240 new on-site and off-site construction-related jobs would be created, the study concluded, with $78 million in wages and salaries inserted into the regional economy. Currently, the site employs 15 to 30 people for a rock-crushing operation.
Once the 300,000 square feet of commercial space is completed on site, the study projects, 505 new employees will be working there. The residential portion will include age-targeted homes for the 1,536 estimated residents in single-family homes, townhouses, twins and condominium units. The commercial portion will include retail stores, offices, restaurants and a 250-room hotel with an indoor water park.
Other details in the report show that borough council has not yet decided whether the roads and infrastructure within the development should be private or public. Borough staff have said that they prefer any new streets be privately owned and maintained due to the overpayment of tax revenues to the borough from the Lebanon County Earned Income Tax Bureau that occurred over several years. Those overpayments are estimated to total $1.3 million.
"We're not agreeing that we owe that money," Hilton said, adding that if indeed the borough does need to pay back the money, the revenue generated through the project would have to be considered borough-generated.
In July, H&K presented borough council with a petition for a change to the borough zoning map and zoning ordinance. H&K requested a change because the map and ordinance do not provide for the clustering or densities the conceptual site plan lays out.
H&K's proposed hotel, water park, village commercial, professional offices and restaurants are not permitted, according to current zoning. To accommodate its plans, H&K requested 568.15 acres be amended on the zoning map and a change to the zoning ordinance be made to create a Planned Development Overlay District. That request has not yet been acted upon.
H&K maintains three surface-mining permits on this site, and if the proposed zoning amendment is approved by council and the development moves forward, the existing rock-crushing operation and future plans for concrete and asphalt batch plant facilities would be abandoned by H&K.
andreajohnson@ldnews.com; 272-5611, ext. 139
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