New Hampshire to Fund Mittersill Improvements at Cannon with New Debt
At least $750,000 in new debt will be incurred to fund Cannon Mountain improvements
Sunday, August 10, 2014, NewEnglandSkiIndustry.com
On August 10, 2014, WMUR announced Cannon would be spending $1 million on trail and snowmaking expansion at Mittersill and $1.05 million on general snowmaking, grooming, and infrastructure improvements elsewhere.
At a June 4, 2014 New Hampshire Governor and Executive Council meeting, Governor Maggie Hassan and the council (with Chris Sununu of Waterville Valley recusing himself) agreed to incur $750,000 in new debt for further spending at Cannon Mountain ski area with some of the funds to be spent on Mittersill related infrastructure. It is not known if the $2 million total is accurate, or what other accounts the state will tap to fund the balance.
The only state owned and operated ski area in New England, Cannon Mountain has spent millions of dollars in improvements using a debt account financed by lease payments from the private operators of state owned Mt. Sunapee ski area, as well as general fund dollars. Just one year prior to this latest debt increase, State Treasurer Catherine Provencher disclosed a growing deficit in the Cannon Mountain debt account and recommended lawmakers "stop the bleeding" as she expected the "deficit will continue to grow."
