Burke Mountain lawyer objects to decision to set resort’s value at $18.7 million

Burke Mountain lawyer objects to decision to set resort’s value at $18.7 million

EB-5, EB-5 Visa, EB-5 Investment

A lawyer representing Burke Mountain is appealing a decision by the Town of Burke to set the market value of the ski resort at slightly more than $18.7 million, saying it is too high..

According to the Caledonian Record, Burlington attorney William Prescott recently wrote to town officials to contest the decision by the town’s assessor. According to the newspaper, Prescott said Burke Mountain is losing money, and the lack of profitability lowers the property’s value beneath the present level. He’s seeking a hearing before the Burke Board of Civil Authority.

The ski resort is currently in the hands of a court-appointed receiver until a new owner can buy it. Burke Mountain’s former owner, Ariel Quiros, is expected to plead guilty in federal court this Friday in connection with the Northeast Kingdom EB-5 investment scandal.



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