2017-10-26 / Front Page

Katofsky lays out a plan for Sugar Loaf Resort


LOCAL MEDIA representatives showed up in force to cover Jeff Katofsky’s meeting with members of the public Friday morning at the county Government Center. LOCAL MEDIA representatives showed up in force to cover Jeff Katofsky’s meeting with members of the public Friday morning at the county Government Center. Following are some highlights of Jeff Katofsky’s remarks last week at a standing-room-only public meeting:

• Katofsky wants to turn Sugar Loaf Resort into a “four-star” resort with all the upscale amenities that includes. The resort will likely be ‘flagged’ by a major hotel chain in part to take advantage of national and international marketing efforts.

• He has not yet decided on whether skiing will return to Sugar Loaf and needs to gather more information before deciding. “If it doesn’t make financial sense, we will not do it – but we must draw people year-round,” he said.

• The air strip at Sugar Loaf Resort is “going to go away,” Katofsky said.

• He has no plans to build condos or townhouses at the resort.

• He does expect to build some “workforce housing” locally for the roughly 250 people the resort could employ year-round. Seasonally, the resort could employ up to 400 people.

• In explaining why Polselli’s name popped up during Katofsky’s purchase of Sugar Loaf, he said it’s hard to get a mortgage loan on a foreclosed property. Katofsky sued the former owner to collect a debt, and three properties in Michigan became part of the settlement. Mortgage notes are sold all the time, Katofsky pointed out, so the question of who’s currently behind the mortgage is not something that concerns him anymore.

• It will likely be more than a year before plans begin to finalize for Sugar Loaf, with the resort possibly re-opening in the 2021-2022 timeframe.

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