Jay Peak bombshell

[thetrailboss]

Brent Raymond has taken a job with Mt. Snow.


.

And so the revolving door continues......

 

[BenedictGomez]

Brent Raymond has taken a job with Mt. Snow.

I thought you were kidding, so I Googled it.

Brent Raymond has resigned as Vermont’s director of international trade, where his primary duty was to oversee the state’s EB-5 immigrant investor program. Raymond said Monday he has accepted a position working for Mt. Snow and Peak Resorts....

Positively amazing.

So the guy who was ostensibly in charge of EB-5 oversight (which turned out to be a complete lack of oversight) for Vermont, whose real "job" we learned was "making it rain" EB-5 money on Jay Peak & Burke with zero financial accounting .......that guy...... is now going to work for Mount Snow, which seeks to be the new king of Vermont EB-5 money.

Yeah, because there's nothing blatantly and obviously shady about that at all.

http://www.burlingtonfreepress.com/...trade-eb-immigrant-investor-program/30438905/

 

[thetrailboss]

I thought you were kidding, so I Googled it.




Positively amazing.

So the guy who was ostensibly in charge of EB-5 oversight (which turned out to be a complete lack of oversight) for Vermont, whose real "job" we learned was "making it rain" EB-5 money on Jay Peak & Burke with zero financial accounting .......that guy...... is now going to work for Mount Snow, which seeks to be the new king of Vermont EB-5 money.

Yeah, because there's nothing blatantly and obviously shady about that at all.

http://www.burlingtonfreepress.com/...trade-eb-immigrant-investor-program/30438905/

The term "conflict of interest" does not exist in Vermont.

Last week the Commissioner of ANR announced he was stepping down. His replacement is married to the President of VPIRG, a very active environmental lobbying group. When folks questioned the Governor's office about it, and the possible conflict of interest, they were told to shut up and not worry.

 

[mbedle]

Good move on Mount Snow's part bringing him into the fold.

 

[ss20]

Good move on Mount Snow's part bringing him into the fold.

Well, they started their EB-5 program long after Jay started, and they've already raised enough money to embark on their 2 year snowmaking plan that replaces most of their snowmaking system.

 

[mbedle]

Well, they started their EB-5 program long after Jay started, and they've already raised enough money to embark on their 2 year snowmaking plan that replaces most of their snowmaking system.

I'm not really sure what your point was in the comment. As I understand it, they have a lot of other EB5 projects they are pursuing. Given the new review process that this project will be under, it can only be an asset to have Raymond on board.

 

[thetrailboss]

Well, they started their EB-5 program long after Jay started, and they've already raised enough money to embark on their 2 year snowmaking plan that replaces most of their snowmaking system.

Interesting that they are using EB5 for snowmaking when Jay, Burke, and Sugarbush did not.


Sent from my iPhone using AlpineZone

 

[machski]

Well, they started their EB-5 program long after Jay started, and they've already raised enough money to embark on their 2 year snowmaking plan that replaces most of their snowmaking system.

I do not believe this to be the case. EB-5 money was suppose to be for their expanded real estate plans. I believe the snowmaking upgrades are being financed traditionally.

 

[thetrailboss]

I do not believe this to be the case. EB-5 money was suppose to be for their expanded real estate plans. I believe the snowmaking upgrades are being financed traditionally.

That was how other places have done it.

 

[HowieT2]

That was how other places have done it.

Yeah, well, that way the eb5 investors get an interest in whatever real estate entity is set up, but not the resort entity itself.

 

[MadMadWorld]

Not at my age but still weighing in at 6ft., 180lbs.

Then again my wife still considers me a catch as I do her.

All that matters to me.

And with such a sparkling personality you sure are a keeper.


Whoa was that Ben Affleck???

Nope...even better! It's steamboat1

 

[ss20]

I do not believe this to be the case. EB-5 money was suppose to be for their expanded real estate plans. I believe the snowmaking upgrades are being financed traditionally.

http://mountsnoweb5.com/carinthia-1-lp-project/

Mount Snow’s first offering, the Carinthia LP project, is comprised of two construction projects: West Lake Water Project LLC and Carinthia Ski Lodge LLC.

They're doing limbo under the red tape.

 

[steamboat1]

And with such a sparkling personality you sure are a keeper.


Whoa was that Ben Affleck???

Nope...even better! It's steamboat1

It's nice having a fan club.

 

[machski]

http://mountsnoweb5.com/carinthia-1-lp-project/



They're doing limbo under the red tape.

Well, I'm guessing the water project with the reservoir build up, pipe runs and all the pump stations is likely a multi-year build project. As such, they will likely show job gains for 2 years minimum on the project which could qualify it for EB-5 monies. Normally they have to show long term job growth so the water project tied in with the Carinthia lodge (which will add new positions and jobs theoretically) may have given them the numbers needed. Sounds like the 2 projects were offered as an EB-5 in a package deal. Smart on their part, wonder why Jay hasn't done this.

 

[VTKilarney]

How is construction coming along this summer? Are the condos being built EB-5 funded?


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[fbrissette]

How is construction coming along this summer? Are the condos being built EB-5 funded?


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The new condos are all being built and are all EB-5 funded AFAIK. Condo resale is very slow which is not surprising the value of the canadian dollar.

Nothing has moved as of yet for the rec center. They fenced the construction area two months ago but it has not started. I would assume that they will delay the project once again.

 

[VTKilarney]

How does Mont Tremblant compare to Jay Peak for overnight rates? You can get a one bedroom condo in the Tremblant village during ski season for about $150 CAD, which is a great deal. (You have to book ahead of time to get that rate.) But when you add lift tickets, is Tremblant still substantially cheaper than Jay Peak?

I ask because it seems that you REALLY have to want to own a condo when Tremblant is so affordable. Add to that the $99 youth season passes at Tremblant, and there seems to be some real competition.

And even then, buying a condo in Tremblant gives you a true four season resort town, whereas Jay is not. But Jay also gets a lot more snow, so I can see advantages for both locations.


.

 

[fbrissette]

How does Mont Tremblant compare to Jay Peak for overnight rates? You can get a one bedroom condo in the Tremblant village during ski season for about $150 CAD, which is a great deal. (You have to book ahead of time to get that rate.) But when you add lift tickets, is Tremblant still substantially cheaper than Jay Peak?

I ask because it seems that you REALLY have to want to own a condo when Tremblant is so affordable. Add to that the $99 youth season passes at Tremblant, and there seems to be some real competition.

And even then, buying a condo in Tremblant gives you a true four season resort town, whereas Jay is not. But Jay also gets a lot more snow, so I can see advantages for both locations.
.

Choosing between Tremblant and Jay Peak (especially when buying real estate) has little to do with money. Mont Tremblant is glitzy. You have a big 'walking only' village, lots of restaurants and bars (with professional staff) and a huge activity center that offers 60 or 70 different trips/activities (no need to take your car) all year around. You get a shitload of tourists (more in the summer than winter nowadays) and you'll hear french, english, japanese, chinese, italian while walking around. The place is busy all the time and super organized. As to the skiing, it has fast modern lifts, very large uphill capacity and excellent snowmaking. This means - lots of skiers going downhill, lots of fast groomed runs, and new snow that gets tracked really really fast. Backcountry/slackcountry options are limited.

Jay Peak is the anti-Tremblant and that's why we chose it. It is disorganized and has a strong local flavour outside of the big holiday week-ends. Summers are quiet, the roads are fantastic for cycling, there is great hiking (where you are all alone) and outstanding swimming holes. You all know what the skiing is like.

The old Tremblant , where I learned to ski, was a lot like Jay Peak. Intrawest made it into what it is today. Good for business and jobs, and a great place for a short holiday, but not a place where I wanted to buy real estate.

Notwithstanding the exchange rate, you can get relatively cheap slopeside accommodation at both resorts if you book ahead. But Tremblant has the very expensive luxury hotels and restaurants so you can spend a lot of money if you so desire. Its hard to spend a lot of money on food at Jay Peak.

When we bought our Jay Peak condo (2009), real estate was much much cheaper at Jay. At that time a tiny 2 bedroom condo at Tremblant started at 150k for quarter ownership. The market has gone down significantly at Tremblant since then (Tremblant is currently the most depressed housing market in Canada).

 

[marcski]

Choosing between Tremblant and Jay Peak (especially when buying real estate) has little to do with money. Mont Tremblant is glitzy. You have a big 'walking only' village, lots of restaurants and bars (with professional staff) and a huge activity center that offers 60 or 70 different trips/activities (no need to take your car) all year around. You get a shitload of tourists (more in the summer than winter nowadays) and you'll hear french, english, japanese, chinese, italian while walking around. The place is busy all the time and super organized. As to the skiing, it has fast modern lifts, very large uphill capacity and excellent snowmaking. This means - lots of skiers going downhill, lots of fast groomed runs, and new snow that gets tracked really really fast. Backcountry/slackcountry options are limited.

Jay Peak is the anti-Tremblant and that's why we chose it. It is disorganized and has a strong local flavour outside of the big holiday week-ends. Summers are quiet, the roads are fantastic for cycling, there is great hiking (where you are all alone) and outstanding swimming holes. You all know what the skiing is like.

The old Tremblant , where I learned to ski, was a lot like Jay Peak. Intrawest made it into what it is today. Good for business and jobs, and a great place for a short holiday, but not a place where I wanted to buy real estate.

Notwithstanding the exchange rate, you can get relatively cheap slopeside accommodation at both resorts if you book ahead. But Tremblant has the very expensive luxury hotels and restaurants so you can spend a lot of money if you so desire. Its hard to spend a lot of money on food at Jay Peak.

When we bought our Jay Peak condo (2009), real estate was much much cheaper at Jay. At that time a tiny 2 bedroom condo at Tremblant started at 150k for quarter ownership. The market has gone down significantly at Tremblant since then (Tremblant is currently the most depressed housing market in Canada).

I was skiing solo at Jay a few years ago and found myself on the chair with a couple from Montreal. We started talking and I asked why they prefer Jay to Tremblant. Their response was (spoken with a French-Canadian accent) that "at Tremblant, they think their shit doesn't smell."

 

[crank]

I think Jay Peak gets a lot more snow and has a lot more tree skiing. Tremblant takes the prize for lodging, dining and entertainment though. I have found it easier to get good deals on lodging at Tremblant as well.