DURANGO, Colo.—Purgatory at Durango Mountain Resort has taken out an $8.85 million loan to refinance debt and make improvements on the ski mountain.
La Plata County records show the resort and The First National Bank of Durango recorded a deed of trust on the loan Feb. 11. The length of the loan and interest rate weren’t disclosed. The loan is backed by the U.S. Department of Agriculture’s rural development program.
The resort is planning to create a dirt base for its terrain park so the park won’t need as much snow to open, and it is considering adding trails and unspecified summer amenities.
Purgatory spokeswoman Beth Holland says the resort is on track this season to surpass the 239,845 skier visits it had last season.
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Information from: Durango Herald,
