WEST DOVER, Vt. (AP) — Vermont’s Mount Snow ski resort is finally getting $52 million to help pay for its snowmaking system.
The West Dover resort had been waiting on the money, to be disbursed through the federal EB-5 funding program that offers permanent residency to foreign investors.
The company says U.S. Citizenship and Immigration Services approved the first investor petition, which triggered the funds to be released.
The resort is using the money to expand its snowmaking and replace an aging base lodge with a three-story, 36,000 square-foot building. It represents nearly 80 percent of a planned $66 million investment.