NEDERLAND, Colo. — The Town of Nederland is moving toward its purchase of Eldora Mountain Resort, with final transaction documents set for review by the town’s Board of Trustees Tuesday.
The acquisition could be finalized before the end of the year.
For skiers like John Thompson, who spent 107 days on the slopes last year with about 90 of them at Eldora, the potential purchase is a big deal.
“It’s our once-in-a-lifetime chance to do this, and if we don’t do it now, we’ll never get it again,” Thompson said.
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The path to acquisition comes after Utah-based POWDR Corp. announced the resort was for sale last summer.
A public memo on Nederland’s website reveals the purchase price will be between $115 million and $120 million.
The town plans to finance the purchase through revenue bonds tied to lift tickets, rentals and food sales, according to the document.
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State Senator Janice Marchman, a democrat who represents Boulder County, sees multiple benefits from the acquisition, particularly for workers who lost their jobs after the Caribou Village Shopping Center fire in October.
“It’ll be good for revenue,” Marchman said. “It’ll be good for the workforce, and it’ll be really good for all of the surrounding areas, as people continue to come up.”
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However, some residents remain cautiously optimistic, concerned about how a poor snow season could impact the town’s other budgeting decisions.
With the town closing in on the sale, Sam Bass, Director of Marketing at Eldora Mountain Resort, provided a statement to Denver7 that said, “The sale process is underway and the timeline is unknown, but all of us here at Eldora are looking forward to a bright future under the Town of Nederland’s stewardship.”
Meanwhile, Thompson and other Eldora enthusiasts hope local ownership will return the mountain to its small-town roots.
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“Eldora has always been one of the smallest resorts in Colorado,” said Thompson. “It’s always been the place where people go, where they don’t want to spend $1,000 at Vail, they want to just go for the afternoon.”
Documents indicate final authorization of the purchase could come in mid-December.
Read our previous coverage on Nederland’s plan to purchase Eldora below:
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