The Finance Authority of Maine board unanimously approved $2.5 million in loan insurance on a $12.5 million loan, along with a $1 million direct loan.
saddleback
Posted inBusiness
Saddleback loan guarantee meeting postponed
AUGUSTA — A meeting Thursday between the potential buyers of Saddleback Mountain ski area and the Finance Authority of Maine to secure a loan guarantee critical to the sale was postponed Wednesday pending additional information. William Norbert, FAME Governmental Affairs & Communications manager, said in an email Wednesday afternoon, “FAME has determined that additional analysis […]
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Posted inBusiness, Local & State, News
Saddleback buyers seek loan from Maine Rural Development Authority
Arctaris, a Boston firm, also wants loan insurance from the Finance Authority of Maine in a $6.5 million deal to reopen the ski resort.
Posted inBusiness, Local & State, News, Outdoors
Buyers postpone Saddleback purchase while state reviews backing
The sale of the closed ski resort will be pushed into early next year while the Finance Authority of Maine reviews the buyer’s application for state-backed debt insurance.
Posted inBusiness, Local & State, News, Outdoors
Prospective Saddleback buyer nears deadline to raise $2 million to close the deal
Arctaris Impact Investors has given itself until Dec. 16 to raise the money through a nonprofit.
Posted inBusiness, Local & State
Reopening Saddleback will bring more than skiing back to Rangeley area
A range of emotions in Rangeley — “I think everybody around here is very excited,” “I don’t think they want to celebrate until that line is signed” — around the new Saddleback Mountain sale announcement.
Posted inBusiness, Local & State, News, Outdoors
Saddleback sale agreement lifts hopes for long-closed ski area to get up and running
After four years of uncertainty, the ski area near Rangeley is expected to reopen in 2020 under the ownership of a Boston investment company.
Posted inMaine Voices, Op-eds, Opinion
Maine Voices: As stewards of God’s creation, we must protect America’s public lands
The Land and Water Conservation Fund – which uses no taxpayer dollars – should receive a full and permanent federal appropriation.
Posted inBusiness, Local & State, News
Talks to reopen Saddleback Mountain ski resort stall
A potential deal between the owners and Boston investors, announced in June, collapses amid finger-pointing and accusations.
Posted inBusiness, Local & State, News, Sports
Boston investment firm still pursuing purchase of Saddleback ski area
But the Arctaris Impact Fund says the $10 million in federal tax incentives it is eligible for doesn’t figure in those negotiations.