Mount Snow CEO Dick Deutsch's long months of waiting are over.
The resort's EB-5 project has been approved, after two years, by the U.S. Citizenship and Immigration Services. The approval puts Deutsch one step closer to accessing the $52 million he raised from foreign investors for infrastructure projects at Mount Snow, a ski resort in West Dover.
Deutsch told the Burlington Free Press in March he was in the 22nd month of waiting for approval from USCIS, and that he was frustrated and disappointed, with "nobody at the immigration service I can talk to."
Deutsch was not available for comment on Friday.
The $52 million raised from investors will be released from escrow immediately following the approval of the first conditional green card for an investor in the Mount Snow offering. Under the EB-5 program, foreign nationals who invest $500,000 in a development project in a rural or economically depressed region of the country receive a conditional green card that can become permanent if a required number of jobs are created.
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