Senate Public and Municipal Affairs Committee has voted to establish a commission to look into the proposal.
Thursday, March 5, 2015, NewEnglandSkiIndustry.com
By a vote of 5 to 0, the New Hampshire Senate Public and Municipal Affairs Committee has put Senate Bill 30 on hold. Filed by Senator Jeff Woodburn (D-Dalton), SB 30 would have provided $25 million in state backed bonds of the $143 Phase 1 reopening of the Balsams Resort project, led by Les Otten.
On March 5, the committee amended SB 30 to establish a commission to look into the feasibility of the project. The commission would include representatives, senators, and DRED, as well as representatives from Ski NH, New Hampshire Association of Realtors, New Hampshire Bankers Association, and New Hampshire Business Finance Authority.
The study may lead to a significant delay or altogether killing of the bill.
A similar bill filed by Woodburn was killed by the Senate Finance Committee in February.
According to Otten last week, the Balsams project will die if SB30 is not passed. "It is economics and it is not meant to be threatening. There is no Plan B. It is the last chance to save the ship before it goes down."