Mosquito Pass, LLC is developing a concept for backcountry huts in the North Mosquito Creek Valley near Alma, CO. These dwellings would be new construction, and the plan is conceived to operate in harmony with the efforts of North London Mill Preservation, Inc. to restore and repurpose the North London Mill site.
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| Sites Under Consideration on the Lehigh Valley Placer (circled in red) |
We envision as many as five huts, each accommodating ten adult guests and their minor children. We imagine traditional log construction, similar to the 10th Mountain Huts. The lands are zoned for mining, under which a Conditional Use Permit for a “Bed and Breakfast” is possible. The definition of “Bed and Breakfast” is: “A commercial establishment conducted within a Residential Dwelling Unit containing congregate dining room(s), a kitchen, bathrooms, and individual bedrooms operated for the short-term rental and overnight accommodation of not more than 2 guests for each bedroom with a maximum of 10 guests, plus their minor children, at any one time.”
One possibility would be to organize the investment in such a venture as a co-op. With an estimated budget of $500,000 to build, 10 investor/shareholders would own a share for $50,000 each. Shareholders would be entitled to reservation priority, some discounts and other privileges, and a dividend of profits at the end of the year. Shares would be transferable and could be divided. Huts would be rented out when not reserved by shareholders.
Here is a rough financial projection:
Projected cost of construction $500,000
10 shareholders @ $50,000 each $500,000
$40/PP/night @ 50% annual occupancy $73,000
-20% maintenance -$14,600
Annual Revenue less expenses $58,400
Shareholder Annual Dividends 30% = $17,520
= $1,752
