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City Selects Intrawest for Winter Park JV

DENVER-East West Partners turns in a good proposal to operate and develop city-owned Winter Park Resort, but the firm from British Columbia comes in with a better proposal in the eyes of Mayor Wellington E. Webb's executive committee.

By John Rebchook | Updated on January 30, 2002

DENVER-Mayor Wellington E. Webb has accepted the recommendation of the Winter Park executive committee to begin negotiations with Canada-based Intrawest to become the city’s partner to operate, invest in and develop the city-owned Winter Park Resort.”As mayor, my first priority is to make sure that Winter Park Resort will be a successful, competitive destination resort with extensive investment on the mountain,” Webb says. “Intrawest’s proposal shares this vision.”

Intrawest beat out Colorado-based East West Partners, the largest private developer in the Vail area. Webb says he reviewed proposals from both Intrawest and East West, and found them both strong financially. But he says while East West’s proposal was good, Intrawest’s was great.

As part of the deal, as soon as Intrawest signs the contract with the city, it will pay the city $3 million. After that, it guarantees the city $2 million a year for the next 10 years. After that, Intrawest’s payment will be based on a formula that won’t be disclosed until the contract is signed and approved by the city council.

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