ST EA MB O AT THURSDAY FREE FEBRUARY 5, 2009 Steamboat Springs, Colorado ® Vol. 21, No. 31 TODAY ROUTT COUNTY’S DAILY NEWSPAPER STEAMBOAT SPRINGS Falling trees affect parks Steamboat Lake, Pearl Lake campgrounds devastated by beetle issue Page 3 HAYDEN Town may add land MATT STENSLAND/STAFF Board to discuss Base area developers said Wednesday that financial woes suffered by Fortress, which owns Steamboat Ski and Resort Corp. parent company Intrawest and is financing annexation, Triple Crown, several base area projects, are not slowing planning for redevelopments including Ski Time Square and Thunderhead Lodge. trustee appointment SPORTS Fortress stock falling Base area developers say firm’s financial woes aren’t slowing local projects Blythe Terrell and Brandon Gee Corp. Amid the global economic Time Square redevelopments. PILOT & TODAY STAFF downturn, the New York-based The prospectus aims to secure On the ’Net Fortress has made headlines development financing for the View Fortress’ solicitation for financ- STEAMBOAT SPRINGS because of financial concerns project. The Atira Group, Cafritz ing of the Ski Time Square and Fortress, the financial foun- — Fortress stock declined from Interests and Drawbridge Thunderhead Lodge redevelopment dation of Steamboat Ski and $31 a share in February 2007 to Special Opportunities Fund, projects, and a Goldman Sachs analy- sis of Fortress finances, on the Web at Resort Corp. and a backer of $1.45 a share when the market which is a Fortress fund, are list- www.steamboatpilot.com. several base area redevelopment closed Wednesday. ed as partners. Faith projects, is facing significant A real estate document links “Intrawest ULC, a subsidiary Ski Corp. President Chris challenges that could affect con- a Fortress fund to base area of Fortress Investment Group, Diamond said he hadn’t seen struction on Mount Werner. redevelopment projects. has agreed in principal (sic) to the document or heard about reaffirmed Fortress Investment Group, The Steamboat Ski Resort provide an additional $5 mil- any Intrawest plans to invest a public hedge fund and private Base Area Village prospec- lion equity investment in the in the project. It’s possible that Page 19 equity firm, is the parent compa- tus listed three partners for the Sponsorship entity,” the docu- ny of Intrawest, which owns Ski Thunderhead Lodge and Ski ment states. See Fortress, back page ■ INDEX SKI TOWN USA SNOW REPORT Briefs . .10 Horoscope . .24 Steamboat Ski Area ❄ † Business. .14 Record . .10 New snow — Mid-mountain* 0 in. Total snow 250 in. Classifieds . .25 Scoreboard. .22 New snow — Summit 0 in. Trails open 165/165 Comics . .23 Sports. .19 Base — Mid-mountain 64 in. Lifts open 18/18 Base — Summit 76 in. Conditions Packed powder Crossword . .23 ViewPoints . .8 *24-hour snowfall as of 12:30 p.m. previous day; † total snow beginning Oct. 21 as measured at mid-mountain Happenings . .7 Weather . .18 FOR UP-TO-DATE ROAD CONDITIONS, INCLUDING RABBIT EARS PASS, call 511 or visit: www.cotrip.org.