Tamarack may re-open for 2010-11
Tamarack may re-open for 2010-11
Published : 12-Aug-2010 05:51
Tamarack ski area in Idaho may partially re-open for skiing net winter if home owner's plans come to fruition.The resort went out of business 18 months ago at the height of the global financial crisis, oweing banks and other creditors several hundred million dollars and the state of Idaho at least $250,000 in annual lease fees for land where the ski slopes are located.
Tamarack had only opened a few years earlier on the back of the pre-but property boom and was following the standard North American resort-development model of the previous two decades of primarily funding mountain operations by property sales at its base. High profiled backers of the resort initially included tennis players Andre Agassi and Steffi Graf.
Legal action to recover any of the outstanding debt possible is currently on going between the banks and other creditors and the resort operating company. However homeowners who bought property at the resort have said they would like to run five of the seven lifts next season, opening up much of the mountain and have presented a business plan to prove the plans viability. They say it would be good for all involved to help stem losses.
Courtesy of and © Snow24 plc
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