Tamarack Homeowners Hope to Ski Again This Winter

Donnelly, ID – Stranded homeowners at Idaho’s bankrupt Tamarack Resort again hope to have the ski area’s lifts running this winter.nThe Tamarack Municipal Association, which represents homeowners at the ski resort near Donnelly shuttered since March 2009, are trying to convince a bankruptcy judge, creditors and the state of Idaho to back their plan for a four-day-a-week ski season this coming winter. They’re convinced that the plan to offer skiing and snowboarding Thursdays through Sundays could break even financially. Five lifts would serve primarily the resort’s West Mountain terrain as the leasing unit of Bank of America is litigating to repossess two other chairlifts.

The resort’s primary owner, Jean-Pierre Boespflug, is looking to sell the resort while the bankruptcy court deals with hundreds of millions of dollars in unpaid debt owed to creditors including the beleaguered Credit Suisse Group.

The homeowners’ plan requires the approval of the state because the resort is also in default on its annual $250,000 lease payment to operate on 2,124 acres of state-owned land. Officials of the Tamarack Municipal Association indicate that the matter could go before the Idaho Land Board next month.

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Earlier attempts by homeowners to operate the ski resort last winter failed due to opposition by creditors to terms imposed by a potential Mexican financier.

Information from BusinessWeek www.BusinessWeek.com

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