A deal has been reached in the sale of Mt. Timothy.
The Board of Directors said in an email on Tuesday that the Society will be submitting an application to the Ministry of Forests and Lands to transfer the operating agreement to KevLar Development Group.
It adds that as part of the transfer agreement which is hoped to be completed early in the new year, KevLar will pay all outstanding debts owed by Mt. Timothy.
“KevLar has a vision for rejuvenating Mt. Timothy as a vibrant ski area for locals, and to market our hill and our community to a wider clientele,” said MTSS President Michael Kidston.
“KevLar also plans to expand the recreational offerings and turn Mt. Timothy into a year-round destination.”
“The directors of MTSS welcome the opportunity to have the ski hill run by experienced businessmen with the necessary resources to upgrade the facilities with some much-needed care and attention.”
The Ski area was put up for sale earlier this year after a series of setbacks.
MyCaribooNow has reached out to KevLar Development for comment.