AUGUSTA, Maine (AP) — A Maine authority on Tuesday announced it has approved tens of millions in bond financing to allow a nonprofit to rehabilitate a former ski resort in a rural part of the state.

The Finance Authority of Maine’s decision makes possible up to $135 million for the developer to rehabilitate the resort, which is located in Big Moose Township in the Moosehead Lake area. The developer is Provident Resources Group Inc. of Louisiana, the Portland Press Herald reported.

Provident is expected to make improvements including the development of a base lodge and conference center. It’s also expected to make improvements to the trail system and ski area among other rehabilitation work.

David Daigler, chair of the finance authority’s board of directors, said plans for the “rebirth of the now-dormant ski resort into a four-season recreation destination is promising news for the Greenville area.” The finance authority is a quasi-public state agency.

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