takeahike46er
05-06-2007, 06:27 PM
From:
http://www.wnbz.com/main.htm
ORDA SECURES LOAN FOR WHITEFACE, GORE PROJECTS
The Olympic Regional Development Authority has secured a multi-million dollar loan to cover major capital upgrades at Whiteface and Gore Mountain Ski Centers.
ORDA President and CEO Ted Blazer told the authority’s Board of Directors on Tuesday that they’ve secured $8 million in tax-exempt financing at 4.24 percent interest. Payments will be made twice a year over ten years.
Gore’s share of the funding will be used for a new learning center, base lodge renovations, an employee center and more parking. The money will also cover the first year of expenses associated with the Lookout Mountain Expansion at Whiteface, formerly called the Tree Island Pod project.
Blazer said they expect the capital projects will lead to more visitors and increased revenues, something he said happened with the improvements at Whiteface that were built for the Winter Goodwill Games. “We started to see a spike in our revenues and every time we’ve made some improvements to the infrastructure, there’s been a spike in revenues,” he said. “With some of the plans we’re doing now, we’re looking at an additional spike in revenue.”
Blazer delivered a presentation to the board, outlining specifics of the Whiteface project including construction of four new trails and a new triple-lift to the right of the slides. Three are expert trails and one is a long intermediate trail. 52 acres of hardwood forest will also be opened up for glade skiing as part of the plan.
Blazer also said ORDA will rebuild the Porcupine Lodge at the top of Lookout Mountain. The structure was last used in the 1940’s as part of the Marble Mountain Ski Area.
Whiteface Manager Jay Rand called it one of the most important projects Whiteface has ever done. “It will add a whole new dimension,” he said. “Especially the big intermediate trail, it’s going to provide something we’re lacking – a good cruising trail. It will be like a wilderness experience for our visitors. The intermediate skier is your biggest group. If you keep those people happy they’re going to keep coming back.”
Rand described it as a very involved, two-year project. He hopes to get the intermediate trail and the lift line cut this year. No construction will take place above 2800 feet until after August 1 to protect the habitat of the rare Bicknell’s Thrush.
Whiteface crews will also be working on other projects this summer including the second phase of the Kids Campus Lodge expansion, upgrades to the maintenance garage area and pump house improvements.
A resolution to accept the $8 million loan was approved unanimously. The ORDA Board is scheduled to meet again June 19.
http://www.wnbz.com/main.htm
ORDA SECURES LOAN FOR WHITEFACE, GORE PROJECTS
The Olympic Regional Development Authority has secured a multi-million dollar loan to cover major capital upgrades at Whiteface and Gore Mountain Ski Centers.
ORDA President and CEO Ted Blazer told the authority’s Board of Directors on Tuesday that they’ve secured $8 million in tax-exempt financing at 4.24 percent interest. Payments will be made twice a year over ten years.
Gore’s share of the funding will be used for a new learning center, base lodge renovations, an employee center and more parking. The money will also cover the first year of expenses associated with the Lookout Mountain Expansion at Whiteface, formerly called the Tree Island Pod project.
Blazer said they expect the capital projects will lead to more visitors and increased revenues, something he said happened with the improvements at Whiteface that were built for the Winter Goodwill Games. “We started to see a spike in our revenues and every time we’ve made some improvements to the infrastructure, there’s been a spike in revenues,” he said. “With some of the plans we’re doing now, we’re looking at an additional spike in revenue.”
Blazer delivered a presentation to the board, outlining specifics of the Whiteface project including construction of four new trails and a new triple-lift to the right of the slides. Three are expert trails and one is a long intermediate trail. 52 acres of hardwood forest will also be opened up for glade skiing as part of the plan.
Blazer also said ORDA will rebuild the Porcupine Lodge at the top of Lookout Mountain. The structure was last used in the 1940’s as part of the Marble Mountain Ski Area.
Whiteface Manager Jay Rand called it one of the most important projects Whiteface has ever done. “It will add a whole new dimension,” he said. “Especially the big intermediate trail, it’s going to provide something we’re lacking – a good cruising trail. It will be like a wilderness experience for our visitors. The intermediate skier is your biggest group. If you keep those people happy they’re going to keep coming back.”
Rand described it as a very involved, two-year project. He hopes to get the intermediate trail and the lift line cut this year. No construction will take place above 2800 feet until after August 1 to protect the habitat of the rare Bicknell’s Thrush.
Whiteface crews will also be working on other projects this summer including the second phase of the Kids Campus Lodge expansion, upgrades to the maintenance garage area and pump house improvements.
A resolution to accept the $8 million loan was approved unanimously. The ORDA Board is scheduled to meet again June 19.