MIDA asked to help finance new lodge at Sundance Mountain Resort

Date:

Skiers and snowboarders gather at the bottom of a run at Sundance Mountain Resort near Provo on Thursday. Under a new proposal, Utah’s Military Installation Development Authority would help fund a new lodge at the resort.
Bethany Baker/The Salt Lake Tribune

A second Utah ski resort may get financial help from taxpayers through the state’s Military Installation Development Authority (MIDA), a public entity tasked with developing land that is owned by or that directly benefits the military.

MIDA is being asked to partner with Sundance Mountain Resort in Provo Canyon to build a new lodge, the Sundance Inn.

MIDA can issue public bonds — which gives developers access to less expensive financing. Then, as the new development raises more in taxes, MIDA can use much of that increased revenue to pay off the debt.



The infrastructure that MIDA would help fund at Sundance, according to a draft plan, would include rooms in the new lodge that comply with the requirements of the Americans with Disabilities Act and accessible offerings for military veterans.

MIDA’s involvement, the proposal says, will help the resort establish a Sundance Veterans Program, paid for with the money the resort saves on development costs.



For the rest of this Salt Lake Tribune story, see: https://www.sltrib.com/news/business/2023/12/15/sundance-resort-utah-taxpayers-may/?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_8550117Top%20Stories%20121523

Share post:

Subscribe

Popular

More like this
Related