When Leavitt first bought the area with his company, White Water Mountain Resorts of Connecticut (WMR), he envisioned a year-round resort with a water park. He also made major investments in the ski hill to the tune of $3 million, which he personally guaranteed. After several slow snow years and zoning delays on the water park, the town approached Leavitt about buying Powder Ridge and leasing it back to him. In 2002 and 2006 the town initiated proposals for the sale-leaseback, but they were ultimately vetoed by the Board of Finance.
In 2006, the town had two appraisals done of Leavitt's properties, which both came back at $6.5 million. But a year later, after not opening for the winter season, Leavitt's company was foreclosed upon and the town eventually bought the acreage for less than half of its appraised value at $2,550,000. And now Leavitt's home has been foreclosed upon.
In the meantime, the town of Middlefield is seeking an operator for the ski area, which it has narrowed down to Alpine Associates.