Nederland’s Board of Trustees voted to buy Eldora Mountain Resort for $120M, funding it via revenue bonds without new taxes, with 700 employees becoming town staff
Nederland Approves Purchase of Eldora Mountain Resort
NEDERLAND, Colo. — The Board of Trustees in Nederland, a Boulder County mountain community of about 1,500 people, voted on Tuesday to approve the purchase of the neighboring Eldora Mountain Resort for roughly $120 million.
Funding and Transition Details
Nederland’s acquisition of the popular ski area, the closest to Denver, will be funded through revenue bonds. These bonds will be repaid using money the resort earns from its operations, such as lift tickets, rentals, food, drinks, and other activities. The deal will not require any new taxes or impact the general fund, according to the town.
About 700 Eldora employees will become town employees. The town will purchase the ski area from POWDR, the Utah-based recreation company that also owns Copper Mountain. POWDR will continue to operate the mountain during a two-year transition period, as stated in the agreement.
Management After Transition
After POWDR’s contract expires, the Front Range ski coalition 303 Ski will manage the mountain. This coalition was involved throughout Nederland’s pursuit of Eldora.
“This approach reflects the Town’s commitment to careful planning, operational stability, and support for the people who make Eldora successful,” read an agenda memo for Tuesday night’s meeting. “The goal is for the transition to feel invisible to guests and staff while setting up the systems that will allow the Town to operate the resort independently in the future.”
The plan is for Eldora to remain on the Ikon Pass.
Background and Community Reactions
Tuesday’s vote follows a more than year-long quest by Nederland to acquire Eldora. Denver7 first spoke to Town Administrator Jonathan Cain about the idea in November of 2024. Cain called it a “moonshot” that was too exciting not to explore. Last July, Nederland officially stated its intention to purchase Eldora, a decision met with cautious optimism from residents.
Residents looked forward to local ownership returning the ski hill to its small-town roots and injecting revenue into the small mountain community. However, some skeptics worried about the fallout from a bad snow year. The town believes it will have the reserves to cover such losses.
| Detail | Information |
|---|---|
| Location | Nederland, Colorado |
| Population | About 1,500 |
| Purchase Amount | $120 million |
| Employees Transitioning | About 700 |
| Current Owner | POWDR |
| Future Management | 303 Ski |
| Funding Source | Revenue bonds |
