CARRABASSETT VALLEY –- Town Manager Dave Cota recently provided a written update from the committee looking into the feasibility of purchasing a new top to bottom gondola for Sugarloaf; a suggestion posed by Olympian Seth Wescott last year. The project is still on track with ongoing discussions, but may not happen as soon as some may have hoped, Cota reported.

Cota said in his memo that in the meantime, Sugarloaf will continue to enhance its snowmaking capabilities and efficiencies to make the best snow product available in New England. The mountain is reporting that it is within 60 percent complete of its stated goals of doubling snowmaking capability, while at the same time reducing energy costs by half.

While Wescott’s concept was very well received, many felt at the time that the deal’s complexities would change over time.

A “Fact-Finding Working Group,” con- sisting of selectmen John Beaupre and Lloyd Cuttler, Sugarloaf Representatives John Diller and Richard Wilkinson, Boyne Representative Bob Turner and Carrabassett Valley citizens Don Fowler and Bob Briggs along with Town Manager Dave Cota, was formed to assist in developing a proposal that may be acceptable to the town, Sugarloaf/Boyne and CNL (the real estate investment trust that owns most of Sugarloaf’s assets), Cota explained.

Cota explained that most recent developments revealed that the town can not take a lead role in financing; however it still might be of assistance down the road in some form. “Nothing is out of the question,” Cota said. The dealings might change weekly or monthly as new developments and new discoveries are found.

“Everyone involved remains very excited about the project, and we all continue to work toward making this a reality,” Diller said. He explained that both Boyne and CNL are involved in the process and are enthusiastic about the prospect of a top-to-bottom gondola.

“The financing has proved to be somewhat more complex than originally thought, which is the reason we’ve suggested that a new lift likely won’t be constructed as quickly as we had initially hoped,” Diller added. “It’s an expensive undertaking and there are a lot of details to work out between Sugarloaf, Boyne, and CNL to find the appropriate balance of risk between all parties,” Diller explained.

The fact-finding group has met on several occasions with its legal counsel in an attempt to identify all possible economic development and financial options available for this project, Cota said. Much has been accomplished, he said.

“We have identified a program called the ‘Economic Recovery Zone Facility Bonds’ that may be of great assistance,” Cota said. If utilized, this could create significantly better lending rates than are commercially available which could make this project, estimated to cost between $8 and $10 million, economically viable, Cota explained in his update.

Cota said the group has been successful in finding a lending rate equal to or better than what was originally described in Wescott’s concept plan. In those regards, if accepted by the bond standards, the group has done its due diligence, but Cota also explained that it will continue to work if alternate plans and considerations happen to reach the table.

Boyne/Sugarloaf representatives continue to have a great deal of interest in “pursuing a solution to create bottom to top transportation” on the mountain, however, there are economic realities for the owners of Sugarloaf and they need to “see a good year” this winter, Cota explained.

Many “Sugarloafers” have expressed their support for this project. “We will continue our efforts,” Cota said.

“The next step is to continue to work out the financial details between all parties to find a balanced and appropriate approach. There is also some work that needs to be done in regards to the design of the lift,” Diller said.

“We have done a considerable amount of work in regards to the design of the lift in order get as accurate a price estimate as possible. We know the proposed line, the type of lift, the number of towers and the base location, and we’re currently working out details surrounding the top terminal and the existing summit building.”

Sugarloaf has reported that it surveyed nearly 4,000 pass holders with specific questions about the enhancement. “The enthusiasm for the project among most respondents was very strong, which reinforced our decision to continue to pursue mutually agreeable avenues for financing the lift,” Diller said.

Both parties are suggesting that those interested call with suggestions and comments.