According to a report, developer Louis Cappelli is looking to re-negotiate terms of an existing agreement to erect the mass entertainment project on the site of the now-demolished Concord resort in New York state.

An article on recordonline.com states that New York senator John Bonacic and assemblywoman Aileen Gunther are co-sponsoring bills which would lead to Cappelli having to invest $600 million in a racino and hotel complex instead of $1 billion. In place of 2,000 jobs, Cappelli would have to create 1,500 jobs after the first three years in business.

"Nobody likes to re-negotiate the terms of an agreement once it is made," Bonacic was quoted as saying in the report.

"If these were the boom times and we were in a hot market, I might be inclined to tell any developer who wants to renegotiate where to go," he said. "However, unemployment in Sullivan County is the highest in the region and one-third higher than last year. I'll take 1,500 unionized jobs over zero jobs any day of the week in this situation. All that said, the next call I get about the Concord project better be about ribbon-cutting, not project-cutting."

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(With files from recordonline.com)