Nederland will purchase the Eldora ski resort, the town announced in a Tuesday afternoon news release.
The town said it reached a “signed term sheet” on Tuesday. A term sheet is essentially a rulebook both parties agree to follow as the final purchase is negotiated. Nederland said the transaction could be finalized by October if all goes smoothly.
To pay for Eldora, the town said it “will issue municipal revenue bonds backed only by the resort’s earnings, which is profitable enough to service the debt,” according to the news release.
On its website, the town said the exact sale price will remain confidential.
If the purchase is finalized, all employees of POWDR, the company that owns Eldora, will become Nederland town staff.
Nederland added that Eldora will stay on the Ikon pass, as well.
Talks between Eldora and Nederland began last fall and accelerated this year.
This is a developing story and will be updated.
Related Posts:
- NASCAR driver differ on Chicago, future. 'Keep coming back,' one says. 'Switch it up,' says another News In Chicago’s earliest days as a NASCAR hotbed — way back in 2023 — star driver Denny Hamlin won the pole in the very first Cup Series street race, then billed as the Grant Park 220. Only one thing would get in the way of Hamlin and sweet victory: He…
- Demi Moore Says Nude Vanity Fair Cover Photo ‘Was Not For the Magazine’ Entertainment In 1991, Demi Moore appeared naked and pregnant on the cover of Vanity Fair in a groundbreaking move that changed attitudes around pregnancy and inspired women to celebrate and embrace their bodies more than in decades past. The unforgettable issue was released while the Oscar nominee was expecting Scout, her…
- Asking Eric: My daughter says she’s a minimalist and won’t take my heirlooms News Dear Eric: My 31-year-old daughter, Lauren, is relocating to California and taking only what fits in her car. Related Articles Asking Eric: Why did they text me and then leave me hanging? Asking Eric: I reported the neighbor, and it turned out wilder than I had imagined Asking Eric: It’s…
- Musk says he’s forming a new political party after split with Trump over tax cuts law News By MICHELLE L. PRICE BRIDGEWATER, N.J. (AP) — Elon Musk said he’s carrying out his threat to form a new political party after his fissure with President Donald Trump, announcing the America Party in response to the president’s sweeping tax cuts law. Musk, once an ever-present ally to Trump as…
- Jeffrey Epstein died by suicide and there’s no ‘client list,’ Justice Department says News By Hannah Rabinowitz, CNN After months of touting the impending release of new, blockbuster information on accused sex trafficker Jeffrey Epstein, the Justice Department announced in a memo Monday that there is no evidence he kept a “client list” or was murdered. The Justice Department also does not plan to…
(Visited 1 times, 1 visits today)