NewEnglandSkiIndustry.com
Connecticut
|
Maine
|
Massachusetts
|
New Hampshire
|
Vermont
SkiNewEngland.net
 
County Delegation Denies Gunstock Loan Request
County Delegation Denies Gunstock Loan Request
Management was requesting the bridge loan for snowmaking and lift maintenance.
Tuesday, June 12, 2018, NewEnglandSkiIndustry.com
Gunstock Mountain Resort (file photo)


The Belknap County Delegation failed to garner the two thirds majority needed to approve a line of credit request for Gunstock Mountain Resort, which may lead to snowmaking and lift maintenance being deferred.

The nine members of the delegation voted in favor of a $600,000 bridge loan, while six members voted against it. Gunstock had previously requested $750,000, but decreased its request.

Despite millions of dollars of county financed debt being invested in off season attractions, such as zip lines and a mountain coaster, Gunstock requests hundreds of thousands of dollars in bridge loans to get through each off season.

According to the Laconia Daily Sun, multiple members of the delegation have expressed interest in leasing the county-owned ski area to a private operator.

Gunstock lost $470,931 during the 2017-18 fiscal year, with skier visits dropping 11% to 150,320. The area has posted losses in two of the last three years, for a total operating deficit of $287,965 during this period.


  • Delegation minority blocks Gunstock borrowing - Laconia Daily Sun External link


  • Related Stories on NewEnglandSkiIndustry.com
  • Belknap County Saddled with Half Million Dollar Loss at Gunstock - April 29, 2018
  • Belknap County Delegation Pursuing Changes at Gunstock - November 21, 2017
  • RFID Ski Pass Technology Growing in Popularity - November 14, 2017
  • Gunstock Agrees to Make Annual County Payment; County Approves More Debt - May 24, 2017
  • Gunstock Withholds Payment to County, Requests Loan - May 19, 2017


  • More Information
  • Gunstock Mountain Resort on NewEnglandSkiIndustry.com
  • Gunstock Mountain Resort on NewEnglandSkiHistory.com


  • comments powered by Disqus
    Have a lead for a story? Send A News Tip.
    Copyright 2014-18 NewEnglandSkiIndustry.com, All Rights Reserved