I don't know for sure, but I would think that this close to holiday weeks, the Town Lift would absolutely be open.
It's not a lift that's snow dependent, so it can be open despite the conditions. That means at the end of the day, if there isn't enough snow on the hill to ski down, or you aren't a confident enough skier to take on the blue run, you can download on the lift at the end of the day.
Also, the Town Lift is an important access point for getting on the mountain for people staying right in town. It can be a bit of a hassle to get to the main base (where Mountainside is located) but if anyone in your party is taking ski lessons, you will have to make your way to the main base area by shuttle.