VTKilarney
Well-known member
I know that the anti-wind advocates say that the turbines throw ice. Is this actually the case? If so, they would need to keep some distance.
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Balsams Grand Resort teams up with ski industry legend Les Otten
- Thread starter bobbutts
- Start date
VTKilarney
Well-known member
Here is an article about the setback issue. The source is biased, mind you:
http://www.windaction.org/posts/404...e-wind-turbine-setbacks-question#.VPXfJ_nF-So
http://www.windaction.org/posts/404...e-wind-turbine-setbacks-question#.VPXfJ_nF-So
Smellytele
Well-known member
The one at Burke is pretty close to the trails. No issue with ice yet being flung around that i know of.
VTKilarney
Well-known member
I got the impression that the ones near the Balsams were on a much bigger scale.
from_the_NEK
Active member
The one at Burke is 3 times smaller than the 400+ foot tall industrial turbines near the Balsams.
Jully
Active member
Turbines at the top of Big Rock in Maine are in the middle of the lift unloading zone. You can ski right up to the base of the turbine and touch the pole if you wanted to. The Balsams ones are also much bigger than those too though.
The state would be behind it, but they also appear mildly reluctant to fund $25 million towards it. Not that I blame them, but Les says without that state money the project is dead.
The state would be behind it, but they also appear mildly reluctant to fund $25 million towards it. Not that I blame them, but Les says without that state money the project is dead.
The wind towers at big rock Maine are the big ass ones. Ski trails go within 150 feet or less of the towers.
VTKilarney
Well-known member
Ahh... I didn't realize that the state would have to come up with that sort of money. That changes things.
Smellytele
Well-known member
It is a 28 mil bond. I could be wrong but I thought that I read that the state would back the bond but the Balsams would be the ones paying it back
Puck it
Well-known member
And if it fails, the state pays or is their insurance on the bond?
Jully
Active member
I think the state is supposed to be entitled to their money back through a lean on the resort's assets if it goes belly up, but it's understandable why they might not pass the bond.
The state would be the insurer to investors in this case most likely and investors would be at the mercy of the state to get paid out if the deal went sideways. The state would probably have the lien on the property as opposed to bond holders but I'm not 100% on that. Of course the reason why the banks wouldn't lend the group the money is because the lien is worthless if they can't get the resort off the ground and cash flow positive at the very least.
Problem is the resorts assets are likely to be worth less on the open market than the $25M unless they are VERY successful. The property sold for only $2.3M to the current ownership group.
I'm not supportive of the state getting involved.
I think they should call Otten's bluff and see if he can find a private source for capital.
VTKilarney
Well-known member
Is it a bluff? If he is saying that he needs the state to assist because he can't find private equity, I would tend to believe him.
All developers want and try for state assistance, whether it's tax breaks or paying for infrastructure.
Look at sports stadiums. Always a back and forth chess match to see who pays for what.
Look at sports stadiums. Always a back and forth chess match to see who pays for what.
VTKilarney
Well-known member
I can point to MANY sports stadiums that were never built because no public financing came through. I am not sure that Otten is actually bluffing here.
And I can point to many where the developer took on added costs they wanted a municipality to pay for. So what?
I think the state is involved enough financially in our tourism industry. I'd rather see that money directed at already viable state parks.
If Otten can't pay for it, tuff luck. Call CNL or Vail. Maybe they'll take the action if it's got potential. I doubt he's exhausted all options.
I think the state is involved enough financially in our tourism industry. I'd rather see that money directed at already viable state parks.
If Otten can't pay for it, tuff luck. Call CNL or Vail. Maybe they'll take the action if it's got potential. I doubt he's exhausted all options.
VTKilarney
Well-known member
So neither of us truly know if Otten is bluffing, that's what.
ThinkSnow
Member
From the Balsams Plan Book 1:
The Century Club is being developed by [Balsams View, LLC or Balsams Resort Properties, LLC, a subsidiary
of Balsams Resort Holdings, LLC] (“Developer”). The Developer is the owner of certain property located
at and known as the Hampshire House and the Dix House located at the Balsams Resort (“Resort”) in the
Town of Dixville, Coos County, State of New Hampshire, which Developer intends to redevelop, renovate and
convert into a condominium to be established pursuant to N.H. R.S.A. 356-B (the “Project”), with residential
units in the Project to be offered and sold in a fractional form of ownership (the “Century Club Units”),
together with membership in the Century Club, a private membership club being established by the Seller.
The Project and the Century Club Units have not been registered with the New Hampshire Consumer and
Antitrust Bureau of the Attorney General’s Office, Department of Justice, and until such registration has
occurred only non-binding reservation agreements may be accepted.
Only non-binding reservations to purchase Century Club Units are being offered at this time. The deposit
made upon signing a non-binding reservation is refundable at any time upon request and the reservation may
be cancelled at any time and for any reason, or without reason, by the purchaser without penalty.
Information and plans pertaining to the proposed development of the Project as described on this website,
together with depictions of improvements, amenities, privileges, land uses and public and private facilities
related to the Project and the Century Club (“Improvements”) are conceptual only, with development of the
Improvements being subject to governmental approvals and market factors.
The development of the Project and the Improvements is expected to take many years and development plans will likely be modified from time to time to respond to varying market conditions and changes in circumstances, such that the Developer
reserves the right to modify or abandon plans for the proposed development (in whole or in part) at any time
without notice. Nothing in these materials obligates Developer or any other entity to build any facilities or
Improvements described herein, and there is no guarantee that any described proposed development or
Improvements will be implemented. Some or all of the proposed amenities and Improvements described
on this website have not yet been constructed. No guarantee is made that the features, amenities and
Improvements described will be built, or, if built, will be the same type, size, or nature as described. The
information and materials described herein, together with any communication made or given in connection
with any of the foregoing, is not a representation or warranty and may not otherwise be relied upon as such.
[All prices are subject to change without notice].
The Century Club is being developed by [Balsams View, LLC or Balsams Resort Properties, LLC, a subsidiary
of Balsams Resort Holdings, LLC] (“Developer”). The Developer is the owner of certain property located
at and known as the Hampshire House and the Dix House located at the Balsams Resort (“Resort”) in the
Town of Dixville, Coos County, State of New Hampshire, which Developer intends to redevelop, renovate and
convert into a condominium to be established pursuant to N.H. R.S.A. 356-B (the “Project”), with residential
units in the Project to be offered and sold in a fractional form of ownership (the “Century Club Units”),
together with membership in the Century Club, a private membership club being established by the Seller.
The Project and the Century Club Units have not been registered with the New Hampshire Consumer and
Antitrust Bureau of the Attorney General’s Office, Department of Justice, and until such registration has
occurred only non-binding reservation agreements may be accepted.
Only non-binding reservations to purchase Century Club Units are being offered at this time. The deposit
made upon signing a non-binding reservation is refundable at any time upon request and the reservation may
be cancelled at any time and for any reason, or without reason, by the purchaser without penalty.
Information and plans pertaining to the proposed development of the Project as described on this website,
together with depictions of improvements, amenities, privileges, land uses and public and private facilities
related to the Project and the Century Club (“Improvements”) are conceptual only, with development of the
Improvements being subject to governmental approvals and market factors.
The development of the Project and the Improvements is expected to take many years and development plans will likely be modified from time to time to respond to varying market conditions and changes in circumstances, such that the Developer
reserves the right to modify or abandon plans for the proposed development (in whole or in part) at any time
without notice. Nothing in these materials obligates Developer or any other entity to build any facilities or
Improvements described herein, and there is no guarantee that any described proposed development or
Improvements will be implemented. Some or all of the proposed amenities and Improvements described
on this website have not yet been constructed. No guarantee is made that the features, amenities and
Improvements described will be built, or, if built, will be the same type, size, or nature as described. The
information and materials described herein, together with any communication made or given in connection
with any of the foregoing, is not a representation or warranty and may not otherwise be relied upon as such.
[All prices are subject to change without notice].
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