.

Powder Ridge Closing Scheduled For Next Week, Selectman Calls for Written Report of Financial Analysis

At Wednesday night's Board of Selectmen meeting, selectman Dave Burgess requested that the board ask for a written letter of assurance that developer Sean Hayes is capable of making the $2 million investment required by the town.

 

Middlefield officials are inviting the town's residents to celebrate next week's closing of the sale of Powder Ridge ski area.

First Selectman Jon Brayshaw said Wednesday night that the town has scheduled the closing with Powder Ridge Mountain Park & Resort for Thursday, September 13, at the property.

"We'll be doing the heavy lifting in the morning in Hartford. Then, at about 4 o'clock, we're going to be meeting at Powder Ridge and we're going to be finalizing the closing of Powder Ridge followed by a celebration," Brayshaw said. "Everybody is invited."

Brayshaw said plans are in the works to invite local dignitaries to the event as well.

Selectman Dave Burgess, who has of the property citing a low asking price, used the announcement as another opportunity to question an oral report on the company's financial ability to meet the $2 million investment requirement.

"Because we had no legal documentation of that... we need something in writing," Burgess said.

Burgess suggested that the town's attorney, Kenneth Antin, provide the town with a letter confirming that the company has the $2 million in funds to make permanent improvements.

"We need something in writing from him," Burgess said "No town official has even seen it."

Burgess said the request was intended to "cover" the town.

Brayshaw told Burgess that he was satisfied that a financial review by Guilmartin, DiPiro & Sokolowski of Middletown earlier this year and  verified that the company had the funds to meet the requirement.

"Rest assured that we're going to make sure that every paragraph in here is adhered to," he said. 

Your Neighbor September 07, 2012 at 03:27 AM
I wonder who is hosting, and paying for, this celebration.
Michael Hayes (Editor) September 07, 2012 at 03:56 AM
Your Neighbor As far as I can tell Sean Hayes is. As a matter of fact, the town received its first check from Mr. Hayes when he paid the fee to pull a tent permit for next week's celebration.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »