Community Corner

Powder Ridge Latest: 'No Deal' Without Timeshares, Group Says

Canadian developers say negotiations to buy ski area may fall apart if a "real estate component" is not included in the deal.

No timeshares, no deal.

That's the latest message from a Canadian group interested in buying Powder Ridge ski area from the Town of Middlefield.

In an email to Patch this week, Rick Sabatino, a former consultant to Alpine Ridge LLC who is now working with another group to purchase and develop the property, says without a "real estate component" finding investors interested in restoring the abandoned ski area would be difficult.

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"Having been in this business for over 20 years most ski area operators need real estate to fall back on. With the amount of money needed for infrastructure, etc., it will be a difficult sell without it," Sabatino said.

Sabatino, who visited Powder Ridge along with his business partner, Dave Perry, spent Saturday morning trying to determine whether a previous agreement between the town and Alpine allowed for real estate, specifically timeshare units.

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"The investor would take another look at it if there were timeshares available. The public has spoken. They want a ski area. There are no experienced ski operators in line to open it given the state of the property," said Sabatino who planned to meet Monday with another investment group. "I anticipate the same response."

While the extent of Sabatino's development plans remains uncertain, the  allows for four housing units, which are designed to accommodate managers or employees of the ski area.

At a Board of Selectman meeting on Nov. 22, at the urging of former selectman Mary Johnson and current selectman Dave Burgess, First Selectman Jon Brayshaw reluctantly agreed to extend by one month the Nov. 30 closing date on the contract between the town and Alpine.

Johnson and Burgess, who initially argued for a two month extension, said moving the closing date would give Sabatino more time to determine whether he wanted acquire the contract which .

"Nothing is going to happen before the spring anyway, so we have nothing to lose by extending the closing date," Johnson argued. 

"You can probably save on the lawyers cost if you extend the date," Burgess added. "The more options you have the better position you'll be in."

Brayshaw, however, was initially reluctant in extending the date, in part, because he said at least three other groups had expressed interest in the property and he did not want to give Sabatino's group "exclusive" rights to the property.

"We have other people in the mix. What I'm saying is I'm not going to sign it unless we make sure that we agree that it's not an exclusive situation," explained Brayshaw who said the town still faced a possible lawsuit over the $25,000 deposit paid by Alpine earlier this year.

"We have an issue with Alpine. They are suggesting that we didn't live up to the contract. We're suggesting we did. So, I think, while we're involved I don't want to be further involved and give credence to Alpine."


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