Receiver: Burke Resort Needs More Jobs Prior To Sale; Jay Peak Should Sell By Next Summer
NORTHEAST KINGDOM — Interest in Jay Peak Resort is high among prospective buyers, federal receiver Michael Goldberg told the judge in U.S. District Court in a filing in recent days.
He said the property will likely be shown to interested parties starting this fall and through the winter, and he’s hoping for a sale by next summer.
However, Goldberg’s earlier hope that Burke Mountain Resort, the other Northeast Kingdom ski property he has been overseeing since the federal government seized the properties of former owner Ariel Quiros in 2016 in the largest fraud case in Vermont history, is not going to be sold this year, Goldberg told the court.
In order to satisfy the job creation requirements for foreign investors in the EB-5 program to obtain their permanent green cards, more jobs must be created connected to the Burke Mountain project, and more construction projects are in the process of being planned, he said.
Read more: https://www.caledonianrecord.com/news/receiver-burke-resort-needs-more-jobs-prior-to-sale-jay/article_fd8b2992-1b3c-5972-9643-bef8cec1621b.html