Resort 'Money Pool' Makes Vermont Splash

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Resort 'Money Pool' Makes Vermont Splash

By Craig Altschul
June 27, 2005

A pool of money known as the Ludlow Enterprise Fund, developed in 2003 to offset the impact from resort-related demands on the municipal services by Okemo's Jackson Gore expansion in Ludlow, Vt., is back at work this summer. Members of the Ludlow Enterprise Committee, comprised of school, municipal, civic, and resort officials, granted $41,000 to give a local park a facelift. The funds grow based on day lift ticket sales at Okemo during the winter season and are a gift that will keep on giving over 12 years.

Past uses of the fund have gone toward work at the police and fire stations, ambulance service, recreational facilities, sidewalks, and a $930,000 grant for upgrades to the electric substation. The work at Dorsey Park (replacing tennis court surfaces and replacing the field house) also includes a $25,000 capital investment from the Recreation Department and the donation of in-kind time and labor from several contractors.

"The Ludlow Enterprise Fund is both collaborative and cooperative," Okemo owner Tim Mueller told The Industry Report. "We care deeply about our town and community and are pleased to lend a hand. When Okemo does well, the town does well and the Ludlow Enterprise Fund creates a win-win situation for all."

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