Update: Canadian Developer Still Interested in Buying Powder Ridge

A Canadian developer is still interested in buying and restoring Powder Ridge ski area.

In an email to First Selectman Jon Brayshaw, Rick Sabatino of Apollo Consulting says he is "actively seeking venture capital for the purchase with the goal of securing $7 to $14 million."

Sabatino says investors have been presented with a detailed business plan and he should know soon if he can present the town with both a letter of intent and a $25,000 deposit.

Sabatino's group pulled out of negotiations with the town in January clearing the way for Sean Hayes of Brownstone Exploration and Discovery Park to begin negotiations with the town.

Hayes presented to turn the abandoned ski area into a winter sports park during a public hearing on Tuesday. 

Sabatino meanwhile has continued to work on his proposal, according to the email.

"Our view to purchase, refurbish and return Powder Ridge to a fully functioning ski hill is only one part of our business model and strategy that would see further year round enhancements and venues to insure [sic] a thriving year round business that would make it a more vibrant and thriving economic contributor in the community."

Reached late Friday afternoon, Brayshaw said he had not seen the email from Sabatino.

"I think we're legally and morally bound to complete the program with [Brownstone]," he said.