Balsams State Bond Bill Clears House Finance Committee
SB30 now amended to allow up to $30 million in state backed bonds.
Friday, May 1, 2015, NewEnglandSkiIndustry.com
The New Hampshire House Finance Committee approved SB 30 on Thursday by a vote of 22-0, sending the bill to the House floor in May. The bill was passed in the Senate by voice vote in March.
The House Finance Committee's "Ought to Pass with Amendment' ruling increased the debt ceiling for the corresponding state backed bonds from $25 million to $30 million. The Balsams ownership is currently requesting $28 million in state backed bonds, as well as a reported $20 million in other public funds, for its $143 million Phase 1. The price tag for the full project is now around a third of a billion dollars.
If funding is procured, construction could begin in June, with the intent of opening for the 2016-17 season.
The northernmost chairlift served ski area in New Hampshire, the Balsams Wilderness operated from 1966 until 2011, when the Dixville Notch Balsams Grand Resort was shuttered. While equipment has been sold and some hotel related structures demolished, the ski lodge and triple chairlifts remain in place.
Dixville Peak as seen from the top of the Balsams Wilderness ski area (2014)