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1674-44 Gerry Sanchez Thistown 'stoo small forr t : e; twt:s: . ; Hollywood couldn't produce a weirder scenario - a Cuban-born developer wants to erect a 300-foot Russian-made statue of an Italian explorer in an ethnically diverse mid-Hudson city. Developer Gerardo "Gerry" Sanchez arrived in Newburgh last year flush with plans to aid the struggling city through development projects. And Ile has become involved in several projects since. But his announcement this week that ne would like to erect a statue of Christopher Columbus -- larger than the Statue of Liberty - on the banks of the Hud- son sounds more folly than financial development. And it has local members of the Italian-American organization; UNICO, riled.up. UNICO has already donated a statue of Columbus to the city. It stands nearly 8-feet tall on the water- front. UNICO says, sensibly, that one Columbus is enough. Sanchez says the colossus Columbus would bring jobs and flocks of tourists. Not likely. With the majesty of the Hudson River and the beauty of the Catskill Mountains available, what makes Sanchez think people will come from far and wide to gawk at a giant man-made tribute to an explorer who never set eyes on Newburgh? There are some historic figures who could stand recognition - Henrik Hudson and Sojourner Truth come to mind. But what would put true smiles on Newburgh residents' faces is real development that brings real jobs, not the promise of a 300-foot-tall white elephant.