Mainebiz

V O L . X X I I I N O. X V J U LY 1 0 , 2 0 1 7 6 Maine home prices go up, inventory down Lower-than-normal inventory of exist- ing single-family homes in Maine led to an 8.85% decline in May sales. Maine Listings, a subsidiary of the Maine Association of Realtors, reported how- ever that the median sales price for the 1,524 homes sold last month rose 5.12% to $200,000. at price indicates that half of the homes were sold for more and half sold for less. For the rolling quarter statistics comparing the March 1-May 31 period for 2017 and 2016, Maine Listings reported 3,819 units had been sold statewide in 2017, a 5.61% decline compared to 4,046 for the same period in 2016. Median sales price for the same periods was reported state- wide at $193,000, a 4.32% increase over the $185,000 median price reported for the same period in 2016. Lobstermen applaud return of baitfish After last year's shortage of the baitfish used for lobster traps, Maine lobstermen are breathing a sigh of relief this year. B U S I N E S S M A I N E Business news from around the state S T A T E W I D E Australian company buys Saddleback, plans investment at mountain resort B Y M A I N E B I Z S T A F F R A N G E L E Y — An Australian company has agreed to buy Saddleback Mountain Resort from the Berry family, giving the ski resort new life after being closed two seasons. Majella Group, which has diversified holdings and an office in Portland, signed an asset purchase agreement to secure ownership of Saddleback Mountain Resort in Rangeley. The purchase includes all holdings of Saddleback Mountain Resort, including the resort, base lodge, ski lifts and surrounding timberland, totaling 6,337 acres, according to a press release. The sellers were Bill and Irene Berry of Farmington. Financial terms of the deal were not disclosed. The deal was announced at a press conference June 28 in Rangeley. Majella Group, which is based in Brisbane and led by CEO Sebastian Monsour, has an office in Portland at 32 Thomas St., according to its website. "Our team understands the importance of Saddleback to the people of Maine, not only as an exceptional ski mountain, but as an economic driver for the entire Rangeley region. We hope to attract more people to the area and expose them to all it has to offer. We are excited to dig in and get to work," Monsour said. Saddleback has been closed the past two winters. Monsour said the Majella Group and its local manage- ment team recognizes that reopening the mountain is a "top priority for the Rangeley community and its loyal constitu- ents, including the many property owners on the mountain," it said in the release. "Replacing the Rangeley Chair and T-Bar are at the top of our list, and from Mother Nature's perspective, we are already up against the clock," Monsour said. An opening schedule has not been set. More visitors in all four seasons Saddleback opened on Dec. 31, 1960, in a booming period of ski resort development marked by the opening of Sugarloaf (1953), Sunday River (1959), Mt. Abram (1960) and Lost Valley (1961), among others. Including this deal, the 4,120-foot mountain has just five owners, including Guy Gannett Publishing Co., former Sugarloaf General Manager John Christie, Massachusetts businessman Donald Breen and, since 2003, Farmington residents Bill and Irene Berry. The Berry family invested in the mountain, added a new base lodge, installed two new quad chairlifts, added new trails and expanded snowmaking and glade skiing. In July 2015, the Berry family announced they would not start win- ter operations unless they could replace the Rangeley Double Chair lift. The mountain has been closed since then. Sebastian Monsour and his father Frank discovered Maine in 2011. The pair spent a few nights on the Portland waterfront and "quickly fell in love with the city and its surrounding area," the release said. "We believe Saddleback requires a plan to create more lodging, more restaurants, and additional on- mountain opportunities," Sebastian Monsour said. "We want to attract significantly more visitor s to Rangeley in all four seasons and create a mountain experience that complements and energizes the Rangeley business community." B R I E F Majella Group, which has diversified holdings and an office in Portland, signed an asset purchase agreement to secure ownership of Saddleback Mountain Resort in Rangeley. P H O T O / C O U R T E S Y S A D D L E B A C K Pogies, herring and alewives have been more readily available in Maine waters, Pat Keliher, commissioner of the Maine Department of Marine Resources, told the Portland Press Herald. Last year, the lobster industry was forced to buy bait- fish from fishermen as far away as New Jersey, creating an extra layer of cost that eventually was passed onto wholesale buyers and consumers. is year, her- ring cost about 60 cents a pound, which is less than lobstermen paid last year for bait, but still not the 18 cents paid in 2015, Keliher told the newspaper. "I won't say we're in great shape, but we are in a heck of a lot better shape than we were last year," Keliher said. N O T E W O R T H Y S T A T E W I D E Cumberland County's Community Development Block Grant program will receive $1.39 million from the U.S. Department of Housing & Urban Development to fund the following projects: South Portland, public services and public facility and infrastructure improvements, $401,457; Bridgton, public services and public facility and infrastructure improvements, $180,656; Steep Falls Library handicap access and The Opportunity Alliance, regional housing rehabilitation, $150,000 each; Long Island Mariner's Wharf improvements, $70,000; Harpswell Aging at Home, home repair for seniors, $61,950; Harpswell Orr's and Bailey Island Fire Station renova- tions, $61,828; The Opportunity Alliance, homelessness prevention, $50,000; Freeport Wardtown Park water tanks and community center, $44,000; Casco Memorial Park ball field and concession stand improve- ments, $41,000; Scarborough Police Department's "Operation Hope," sub- stance abuse treatment, $33,000; Long Island Health Clinic/Telehealth Facility, $30,000; Family Crisis Services, Lakes Region Domestic Violence Services and Outreach, $28,010; and Windham building re- use study, $12,000. The Maine Office of Tourism awarded seven Tourism Enterprise Marketing Grant awards in the spring 2017 round of the Tourism Enterprise Marketing Grant program. Recipients included: Center for Maine Contemporary Art, Maine Professional Guides Associa- tion and Experience Maritime Maine, $10,000; Bethel Area Chamber, $6,190; Maine Pond Hockey, $5,000;

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