Our worst nightmare has also been haunting the residents of the Town of Tuxedo, NY, for the past 20 years.

In 2004, after a 15-year struggle between developers and the residents of this small community in the Hudson River Valley, just 40 miles northwest of the heart of New York City, the Related Companies was granted approval to build an upscale community enclave named Tuxedo Reserve estimated to cost nearly $1 billion and consisting of 1,195 residences. The development approval included a mix of single-family detached houses, semi-detached houses for senior citizens, condo and town-house units and 3,000 square feet of retail and commercial space.

In addition, Related committed to substantial mitigation and community benefits as well as major cash contributions to the town.

The new development was projected to double the town's population of 3,334 to well in excess of 6,000.

Following the 2004 approval, the project languished in limbo until earlier this year when Related came back before a new Tuxedo Town Board seeking major changes to the approved project which if granted will expand retail and commercial space from 3,000 to 30,000 square feet, increase multi-family housing by more than 40 percent, decrease the number of single family homes and convert senior housing to more unrestricted residential units.

The original approvals were the result of much debate and compromise to ensure the town's continued economic viability and the citizen's quality of life.

Now, Related is attempting to throw out a substantial portion of the restrictions that were specifically placed upon the project to protect the town's citizens, the environment and existing business community.

Sound familiar?

Much of the pain and suffering we're currently experiencing at the hands of Related is very similar if not exactly on point with what the citizens of Tuxedo are about to face. Failed promises of monetary contributions, mitigation, amenities, failure to live up to construction timetables and failure to honor contractual commitments appear to be Related's modus operandi wherever they go.

A citizen group named Target Tuxedo is attempting to discourage the new Town Board from falling for Related's rhetoric and empty promises and to deny approval of their proposed changes.

Tuxedo's citizens have been keeping close watch on Base Village and Related's breaches and current lack of activity. They read our local papers and have been in contact with members of our community as well various Snowmass Village officials.

They don't want to make the same mistakes we made when we fell for Related's sweet talk and promises.

The next topic also deals with negative repercussions arising from the rapidly escalating decline of the Related Companies.

At the outset let me reiterate my opinion that the Viceroy Hotel is a sensational new addition to the variety of lodging choices we have in Snowmass. And, so far, Viceroy management is doing most things right including aggressively working to achieve the loyalty of all full- and part-time residents and our guests with its four-star quality service, amenities and the new Viceroy discount membership club.

That being said, the quicksand on which the Viceroy and the rest of Base Village stands is deep and all of Related's squirming and shuffling seems to be accelerating its descent into a very dark hole.

Related has not closed on any of the roughly 76 Viceroy units currently under contract, representing about 50 percent of the total number of hotel units for sale. In addition, lawyers representing 19 buyers have already filed lawsuits to rescind their purchase contracts under federal law and get back their 15 percent deposits.

Reliable sources advise there are other lawyers standing on the sidelines poised to file similar lawsuits on behalf of many, if not all, other buyers who entered into their purchase agreements prior to the collapse of the real estate market.

Facing the strong possibility of having to refund more than $4.2 million in deposits and losing about $28.6 million in sales on the 76 units and no probability of selling any more units for the foreseeable future, Related is facing a less than compassionate bank group headed by Germany's troubled Hypo Bank.

Adding to Related's economic woes as well the town's, the units under contract can't be rented by potential hotel guests until the buyers of those units close their purchase contracts.

If Related defaults on its loan and the bank group forecloses on the project, the future completion of the Viceroy complex as well as the rest of Base Village becomes even murkier than it is now.

Unfortunately, all this bad news ensures our continued suffering at the hands of Related with no visible light at the end of the tunnel.

During the holiday season, say a few prayers for the emergence of a figurative or literal angel to help bail Related and the Village out of this unfortunate situation.

On the good news front, the Viceroy Hotel will host the Part-Time Residents Holiday Reception on Tuesday Dec. 22 from 5 -7 p.m. Mark your calendars accordingly and plan to join your friends and neighbors at the Hotel for one of its early opening events. Appetizers and drinks will be furnished by the Viceroy.

Mayor Boineau will open the festivities with a review of what the Town has in store for us next year. Skico's President, Mike Kaplan, and Senior Vice-President, David Perry, will give us a review of Skico's plans for 2010, and we'll also hear from the Viceroy's General Manager, Jeff David, about all the new programs, amenities and discounts offered by the Viceroy. There will also be a Q&A with the guest speakers.

Don't miss this reception. It promises to be one of the highlights of the holiday season.

I'm always available to answer your questions or respond to your comments at secondview@earthlink.net. or in person at my regular table at Peoples Corner, in front of Fuel and the Daly Bottle Shop.