Mount Snow EB-5 business plan approved
WEST DOVER — Mount Snow is one step closer to getting funds to complete construction on a snowmaking pond near its ski resort and build a new lodge.
"We are almost there!" Mount Snow General Manager Kelly Pawlak said Tuesday. "We're excited to have approval of our EB-5 business plan and we look forward to the approval of our first EB-5 investor."
The West Lake snowmaking pond was built last year. But the resort has been waiting on money to build pump houses, an inflatable dam and pipeline to connect with existing pipeline.
Once the first investor is approved, the resort expects the $52 million held in escrow to be released through the EB-5 program. Investors can receive United States citizenship by dedicating money to approved EB-5 projects.
When the the funds are released, the resort plans to complete its West Lake snowmaking project and begin construction of a new base lodge at its Carinthia terrain-park face.
Work involving pipe upgrades and other on-mountain preparation has already started, said Pawlak.
"Currently, we are upgrading snowmaking pipe on Roller Coaster," she said, referring to a trail on the main face of the mountain. "And we cleared acreage at the Carinthia base area that will be required for the new base lodge and pump house."
This summer, the resort is planning to remove the Ski Baba lift which is located at the bottom of Carinthia near the existing lodge. A new conveyor carpet lift is expected to be installed and operational before the 2016-17 ski season.
A more concise scheduling of the project will be available after the funds are released, said Pawlak.
"We do not have a date on that approval but it is our understanding that it should be soon," she said.
Contact Chris Mays at email@example.com or 802-254-2311, ext. 273.
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