The major financing company of the Heritage Mountain project will locate its corporate offices in the same building as Heritage Mountain Inc. now that the city council has approved a revised project plan to include the corporate offices.

Victor Borcherds, agent for Heritage Mountain Inc. and owner of Southern American Insurance Co., requested the city's permission to locate the company there because the resort management team also manages the insurance company.At a city council meeting Tuesday, Leland Gamette, city community development director, told council members that the facility, 1450 E. Third North, would house the company as part of the financial package for the Heritage Mountain project.

Councilman Steve Clark said: "I feel good about it. My only concern was that it might be a traditional-type insurance company with retail activity."

Gamette assured council members that the office would be used as a headquarters and not as a field office.

Borcherds already has moved eight families to Provo from Memphis, Tenn., to manage the insurance company and the resort development.

He said four insurance companies, including Southern American, are financing the $35 million project.

His intention is to have a water park built and ready to open next Memorial Day. As soon as Forest Service permits are obtained, which according to Gamette may be in nine months, construction on phase two at Heritage Mountain will begin. He estimated that will be next summer.

Phase two includes a ski resort with five chairlifts and a ski school. The ski resort also will include a funicular transportation system to get customers to the resort on top of the mountain.

Borcherds already has invested $500,000 in the Heritage Mountain project.