Nederland says it’s buying Eldora Ski Resort ...Middle East

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.

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