Nederland approves purchase of Eldora Ski Resort
Nederland approved the purchase agreement of Eldora Mountain on Tuesday night, but the sale isn’t complete just yet.
According to reporting from 9News, the town of Nederland’s board of trustees unanimously voted on Tuesday night to approve the purchase of Eldora Mountain.
The purchase will cost around $120 million. Nederland said its going to use revenue bonds to buy the ski area. According to Nederland, the purchase is being made through the Mountain Recreation Enterprise Fund. So, it will be funded through revenue from the ski area, including lift tickets, rentals, lessons, and food and beverage.
The switch of ownership from POWDR to Nederland is expected to take more than two years, according to 9News. Once the sale is complete, Eldora’s roughly 700 workers will become town employees.
Because the ski resort is on federal land, however, the sale is still dependent on whether Nederland will be able to get the necessary permits from the U.S. Forest Service.
Eldora is set to stay on the Ikon Pass.
Find more information about the sale here.
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