Jay Peak bombshell - Page 56

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  1. #551
    Quote Originally Posted by burski View Post
    How can fundraising and construction move forward when the plan is not approved by the State?
    The "offering" was approved - which is the document given to potential investors. The "business plan" has not been approved yet. Apparently as long as the investors are properly aware of the risk construction can commence. Something tells me that the revised "offering" makes the risk more clear, but that's just a hunch.


  2. #552

    Jay Peak bombshell

    Quote Originally Posted by VTKilarney View Post
    The downtown Newport project is NOT where AnC Bio is going to be built. AnC Bio will be in the industrial park. The downtown demolition is being paid for with private funds, and not EB-5 funds.
    I know! It is going where the old Bogner plant was.
    Last edited by dlague; Apr 6, 2015 at 10:06 AM.
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  3. #553
    VTDigger has some good follow up on the AnC Bio and Burke projects:
    http://vtdigger.org/2015/04/04/regul...ial-clearance/

  4. #554
    Quote Originally Posted by VTKilarney View Post
    VTDigger has some good follow up on the AnC Bio and Burke projects:
    http://vtdigger.org/2015/04/04/regul...ial-clearance/
    I cant believe that AnC Bio project is "90% funded". These have to be the dumbest-of-the-dumb EB-5 investors, or the richest-of-the-rich (i.e. I don't care) EB-5 investors.
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  5. #555
    The regional center had asked for an independent appraisal of the real estate in Newport that is to be sold to investors. The plant is to be built on land originally purchased by GSI of Dade County, Florida, a company owned by Quiros. GSI bought the former Bogner plant and 25 acres in Newport for $3.1 million in September 2011, according to land records. Investors entered into a purchase and sale agreement for seven acres of the land as part of the 2012 offering memorandum, which was verified in a statement from Quiros. The agreement lists the price as $6 million, and the payment was to be made by Jan. 31, 2013.
    By "Investors", do they mean EB-5 patrons?

    Because if so, that's a quick $2.9 shill profit for Quiros, which should be illegal.

    It's a total swindling fleece job if I'm reading that correctly.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  6. #556
    thetrailboss's Avatar
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    Quote Originally Posted by VTKilarney View Post
    VTDigger has some good follow up on the AnC Bio and Burke projects:
    http://vtdigger.org/2015/04/04/regul...ial-clearance/
    This is interesting.....

    The developers’ agreements with the Vermont Regional EB-5 Center for the AnC Bio Vermont and Q Burke Mountain Resort projects were “suspended” on June 27, 2014, according to documents from the state. The center, which is part of the Agency of Commerce and Community Development, also cancelled the West Bowl expansion at Jay Peak Resort.
    But this seems inappropriate:

    In addition, Kelly said Gov. Peter Shumlin had suggested that “the state will cooperate with project developers to issue a joint press release or joint media response within the next few days to clarify and correct inaccuracies that were published by VTDigger in their recent articles.”
    Last edited by thetrailboss; Apr 4, 2015 at 10:35 PM.
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  7. #557
    thetrailboss's Avatar
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    The latest: http://caledonianrecord.com/main.asp...ticleID=128349

    I'm not sure if they have raised "90% of what is needed" and have $90 million and need 20 more investors for $10 million more dollars, or if they really have "$77 million" and need about "40 more investors", or about $20 million more. It says both.
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  8. #558
    On Vermont Public Radio it was reported that they need 40 more investors.

  9. #559

  10. #560
    thetrailboss's Avatar
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    Quote Originally Posted by VTKilarney View Post
    On Vermont Public Radio it was reported that they need 40 more investors.
    I figured that they had $77-80 million raised and needed 40 more people. I attributed the Cal Rec statements, regrettably, to an error or misunderstanding.
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