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City Council Approves Winter Park Pact

DENVER-A Canadian-based firm will now operate and develop the city's ski resort in Grand County. Provided it makes improvements in the resort, the firm could operate it for decades to come.

By John Rebchook | Updated on October 02, 2002

DENVER-The Denver City Council has unanimously approved a pact with Canadian-based Intrawest Corp. to operate and develop the city’s Winter Park ski resort in Grand County. Intrawest could end up operating Winter Park until 2078 under the agreement. It must also invest up to $9 million at the park during the next 10 years.

Intrawest is guaranteeing the City $3 million up front and $2 million each year for the next 10 years. Subsequent payments will be based on the resort’s revenues.

The City was not deterred by last week’s lawsuit against Intrawest from rival Vail Resorts Inc., which was filed in Delaware. Vail and Intrawest are partners at the development of Keystone, which Vail owns. Eight years ago the two companies signed a non-compete contract for four counties in Colorado. The agreement requires either company to have a controlling interest before it can develop land in any of those counties, which includes Grand County.

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