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Developer finalizes plans to buy shuttered Michigan resort

Associated Press Associated Press 16/11/2016

CEDAR, Mich. — A California developer has finalized plans to buy a northern Michigan ski resort that's been closed for 16 years.

Steven Haugen, a building official with the Leelanau County Construction Code Authority, tells the Traverse City Record-Eagle (http://bit.ly/2fXHich ) that Sugar Loaf, northwest of Traverse City, officially changed hands Monday.

Haugen says Jeff Katofsky obtained the resort for $3 million under the business name Sweet Bread LLC in a purchase that included six different parcels. Katofsky has pledged to turn it into a year-round high-end resort, maybe in three to four years.

Katofsky says: "Now we keep pressing forward, doing what we're doing, and make final plans."

Sugar Loaf is in Cedar and once was the largest employer in Leelanau County. It includes a golf course, lodging and an airstrip.

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Information from: Traverse City Record-Eagle, http://www.record-eagle.com

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