An artist’s rendering of the planned expansion of the Carinthia base area at Mount Snow. Mount Snow officials are eager to begin construction on the project now that funds from the EB-5 investor program have been released.
There are a lot of smiling faces at Mount Snow this season, and they have good reason to be happy.
“Not only did we get our EB5 funds,” says Mount Snow Development Vice President Laurie Newton, “we’ve had a great start to the ski season. It’s been very busy here.”
The $52 million in investor funds were released earlier in December, after the project’s first investor was approved byUS Customs and Immigration Service officials. Mount Snow officials had expected the money would be released within days of the project’s final approval in the late spring. However, greater scrutiny of EB5 projects after recent allegations of fraud involving another Vermont project may have contributed to a longer-than-expected wait for Mount Snow.