Beginning in 2012, the city will get $2 million plus 3% of gross revenues above $33 million.
Intrawest also must spend at least $50 million over the next 10 years to improve the ski resort, including plans to spend $8 million during the first two years to upgrade lifts and other equipment.
"This is the beginning of a very exciting new chapter for the resort," says Gary DeFrange, vice president and general manager of Winter Park. Intrawest chief executive Gary Raymond calls it a "winning arrangement for all involved."
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