Balsams State Bond Bill Expected to be Signed by Governor
Amended bill has been enrolled by the House and Senate.
Thursday, May 14, 2015, NewEnglandSkiIndustry.com
The bill that will allow up to $30 million in state backed bonds to be used for the reopening of the Balsams Resort was enrolled by the House and Senate on Wednesday, sending it to the Secretary of State for final preparation for the signature of Governor Maggie Hassan.
In a statement issued following the House vote last week, Hassan announced she would sign the bill, stating, "Senate Bill 30 is an important step forward for advancing the Balsams redevelopment project, which has great potential to create jobs and boost the North Country's economy, and I look forward to signing this bipartisan legislation into law."
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)