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Loan trouble closes Gloversville golf course

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The nonprofit Pine Brook Golf Club faces an uncertain future after its board of directors, struggling with club finances, decided not to open the club’s nine-hole course this year. The organization is behind on payments to NBT Bank on a $325,000 loan it took out in February 2010, and it also owes the Fulton County Economic Development Corp. approximately $50,000. Both mortgages are secured by the corporation’s primary assets — the golf course and on-site ...

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grant18
March 27, 2012
7:09 a.m.

[ Flag Post ]

Textbook example of self-dealing, EDC-style!

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