Nederland, Colorado — Back in July, the ski industry was stunned (maybe too dramatic a word, but it was admittedly surprising) following the announcement that the Town of Nederland would be buying Eldora from POWDR. And then… we heard nothing about it for months. However, it now appears that progress is being made towards finalizing the acquisition.
The Mountain Ear reports that while establishing the Town Budget for 2026, the Town of Nederland revealed the additional steps that have been taken since the formal announcement in July.
The reason why we haven’t heard about this is due to a non-disclosure agreement. During this timeframe, Nederland conducted due process research to determine if the ski resort is in good shape, which it is. Over that time, the Frequently Asked Questions (FAQ) page has occasionally been updated with new information. In addition, the town led the employee orientation.
“Staff will continue to provide updates through Town Talks, community newsletters, and Board meetings, and will create additional opportunities for questions and discussion as needed,” states the Agenda Information Memorandum prepared by Nederland’s Town Manager. “When the Board ultimately approves the acquisition, engagement will continue through implementation and transition planning.”
Overall, the town is aiming to acquire the ski resort for a price point between $115 to $120 million. Additional steps required to close the deal include obtaining a new Special Use Permit from the U.S. Forest Service and a new agreement with Alterra Mountain Company, ensuring they remain on the Ikon Pass.
The town plans a two-year transition process with POWDR. In terms of operations, Nederland is partnering with 303 Ski, an organization comprised of ski industry leaders in the Front Range, for guidance.
Taxpayers won’t be on the hook for this acquisition, as Nederland will obtain the funds by issuing revenue bonds. To repay the bonds, Nederland will utilize funds from the ski resort’s operating revenues. This means that sales or property tax revenues won’t be used. Additionally, a debt service reserve is being established as a rainy-day fund.
The Board will vote on the wording of the Asset Purchase Agreement and other financial documents on November 18th. The Board of Trustees will vote on the financial structure of the deal on December 2nd. Finally, the ultimate approval vote is scheduled on December 16th.
Nederland is going to have a lot on its plate with this place. It’ll be interesting to see how this turns out. Can Nederland be a good ski resort owner? Never say Neder.
About Eldora Mountain Resort
Situated close to the City of Boulder, Eldora is also one of the most convenient options for those in the Denver Metropolitan area. The ski resort features 61 trails, 9 lifts, and a vertical drop of 1,400 feet. With a peak elevation of 10,600 feet and a base area at 9,200 feet, altitude sickness is a possibility for those who aren’t accustomed to being high (no, not the herbal kind). Eldora is also home to Nordic ski trails.
While Eldora does host some events in the offseason, it’s generally pretty quiet. This appears to be an area where Nederland could generate additional revenue. Eldora is scheduled to open for the ski season on November 14th.
Image/Video Credits: Eldora Mountain Resort, Warren Miller Entertainment
