BURKE, VT. >> Vermont officials say the federal receiver in control of Burke Mountain Resort now possesses the Certificates of Occupancy needed to open its new hotel and conference center.
The Caledonian Record reports PeakCM, the contractor that built the hotel, had been withholding the certificates from resort ownership until unpaid debts from the development were settled.
PeakCM President Jerry Davis says he had an agreement with Burke Mountain to not open the hotel until he was paid the more than $5 million he was owed.
Davis says he believes the receiver "has a genuine interest" in making good on the payments, most of which is owed to subcontractors. PeakCM is now owed approximately $3.9 million.
Burke Mountain officials are hoping to have the hotel open in November.
Information from: The Caledonian-Record, http://www.caledonianrecord.com