1 minute reading time (90 words)

Buyers Postpone Saddleback Purchase While State Reviews Backing

Screen-Shot-2019-12-23-at-10.09.29-AM The prospective new owner of the Saddleback ski resort intends to build a new lift and refurbish others, part of a plan to invest $38 million in the resort. But the closing on the sale of property has been pushed back until the end of January to allow a state financing agency time to thoroughly review an application for loan guarantees from Arctaris Impact Investors, which agreed to buy the long-closed ski area for $6.5 million. Staff photo by Jack Milton

The purchase of Saddleback ski area will be delayed until early next year while a state finance agency reviews an application for debt insurance that the sale depends on.

Arctaris Impact Fund, a Boston investment group, planned to close the $6.5 million purchase of the shuttered Rangeley-area ski resort from the Berry family next week. The complicated deal would involve federal tax incentives, private investment, state loans and local philanthropy. Saddleback, which had been Maine’s third-largest ski area, has been closed for four years.

 Read the full story at SunJournal.com
Christmas Holiday Ski Forecast
Vacation Destinations for XC Skiers
Comment for this post has been locked by admin.
 

Comments

By accepting you will be accessing a service provided by a third-party external to https://www.snocountry.com/