Stenger Responds to EB- 5 Investor Concerns
Bill Stenger of Jay Peak Resort said that he should have communicated better with the first investors in his Jay Peak development projects. The news surfaced recently that some of the foreign investors who gave money to build the Tram Haus Lodge at Jay Peak Resort, known as Phase I, expressed concerns with the deal. Stenger modified the agreement and did not tell investors until after the fact. The move was not illegal, but according to best practices the investors should have been told ahead of time. Investors also became concerned that they may not get their money back. “I sincerely apologized for the slow and inadequate communications,” Stenger said Tuesday.For the rest of the story see Wednesday's Express!