Nederland says it’s buying Eldora ski resort

Nederland will purchase the Eldora ski resort the town declared in a Tuesday afternoon news release The town reported 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 disclosed the transaction could be finalized by October if all goes smoothly To pay for Eldora the town reported it will issue municipal revenue bonds backed only by the resort s earnings which is profitable enough to facility the debt according to the news release On its website the town commented 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 advancing story and will be updated