Belknap County Commissioners have approved $2.6 million of new debt for the project.
Wednesday, July 29, 2015, NewEnglandSkiIndustry.com
Gunstock Mountain will be getting a new year-round attraction in July 2016, as the Belknap County Commissioners approved a new $2.6 million bond on Monday.
$1.5 million will be spent to purchase the mountain coaster from Wiegand, while the remaining $1.1 million will be used to construct it. Gunstock's current attractions include skiing, snow tubing, zip lines, and Segways. Management projects the coaster will operate 100 days during the summer season and 58 days during the ski season, and expects it to break even in 5 years.
At present, Cranmore and Attitash operate the only mountain coasters in New Hampshire.
Gunstock is owned and operated by New Hampshire's Belknap County, and pays the county some $175,000 per year in an agreement stemming from taxpayer funds being used to pay down debt.
According to the fiscal year 2013 Melanson Heath audit, Gunstock had $6.25 million of long term debt, which was expected to be reduced to $5 million by 2015. The new bond would increase Gunstock's county taxpayer held long term debt to $7.6 million.