“A court-appointed receiver has been placed in charge of the Ramada Inn and Red Roof Inn motel complex in Cortland and has started rehabilitating the property foreclosed upon in February for failing to pay more than $300,000 in local property taxes and federal income taxes. The property had fallen into disrepair in recent years and 40 of the 150 rooms in the Ramada Inn had been closed because of water damage from a leaking roof, said the receiver, Louis Fournier of Syracuse-based Sutton Real Estate Co. Fournier was appointed receiver by the state Supreme Court in Cortland County in February and began his work March 1.”
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“East Lake Commons LLC, an affiliate of the Syracuse-based Sutton Real Estate Company, is proposing an 88,000 square foot mixed-use facility at the corner of East First Street and East Cayuga Street. The development, which would include more than 70 apartments and commercial space, was one of a dozen projects receiving funding through the 2016 state Downtown Revitalization Initiative (DRI).”