Do you have a link? As the State Park is still tax exempt. The buildings and improvements are like any lease/rental... when it is over the landowner assumes ownership of all improvements. There may be local or county property tax payments on the private property around the area that is owned and developed by the corporation... and the new lease suggests more land will be added to the State Park.
The State pays five years of transition property taxes for newly acquired park property... but after that nothing.
So I think the State would love a huge capital development of a ''mid-mountain'' hotel if it increased their lease revenue and meant a future capital asset when the lease came to an end.
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