AUGUSTA, Maine (AP) — Saddleback ski area has announced an agreement for the lease-purchase of a 60-slip marina on Rangeley Lake, an expansion that’s designed to improve the resort’s appeal as a year-round vacation destination.

The transaction, which is to be completed in early May, was announced Thursday in the State House. Gov. John Baldacci says the deal, coming amid hard times, is good news for Franklin County and state.

The agreement allows the addition of 60 more slips on the lake. The marina’s current owner, Larry Koob, is to continue overseeing the facility.

Saddleback this year also plans a 1,000-seat expansion to its recently renovated base lodge and replacement of a double-chair lift with a four-person lift.