After several months of delays, Nederland’s Board of Trustees is scheduled Tuesday to review and vote on an asset purchase agreement for the Eldora Mountain ski resort.
“The Asset Purchase Agreement (APA) sets a purchase price of $120 million for Eldora Mountain Resort,” according to town documents. “The agreement also allows the purchase price to be reduced (but no lower than $115 million) if certain conditions occur that are outside the Town’s control and related to the bond financing.”
Once the agreement is approved by Nederland officials, the deal is expected to officially close later this year.
Documents related to the Eldora purchase were set to be presented to Nederland’s Board of Trustees on Nov. 18, 2025, and financing details were expected to be reviewed last month, town documents from November 2025 showed.
Utah-based Powdr declared its intent to sell Eldora, which was founded in 1962 and has nearly 700 acres of skiable terrain just west of Nederland town limits, in summer 2024, and the town government emerged as a potential buyer late last year.
“The Town of Nederland is seeking to acquire Eldora Mountain Resort to ensure long-term local stewardship of one of the community’s most important economic and recreational assets,” according to a town memo for Tuesday’s trustees meeting. “The purchase would transfer ownership of the resort’s lifts, lodges, snowmaking systems, and related facilities to the Town through the Mountain Recreation Enterprise. The goal is to maintain continuous operations under local ownership, reinvest revenues into the mountain and the surrounding community, and preserve Eldora’s role as a regional gateway for outdoor recreation.”
Nederland and Powdr inked a term sheet — described by the town as a “high-level ‘rulebook’ both sides will follow as we negotiate the final purchase agreement” — for the purchase this summer, and town staffers have since been conducting due diligence “in support of the proposed acquisition, including technical, legal, operational, and environmental reviews,” the memo said.
The town has “undertaken a comprehensive due diligence process to evaluate all aspects of the proposed acquisition. This work included a full Property Condition Assessment that reviewed the physical condition of facilities, lifts, and snowmaking infrastructure, as well as a Phase I Environmental Site Assessment (ESA) to identify potential environmental conditions and confirm regulatory compliance,” Nederland documents show.
“The review also encompassed an evaluation of Eldora’s financial performance and business operations, including historical revenues, expenses, and capital reinvestment needs, to confirm the viability of continued operations under Town ownership. Additional assessments addressed human resources and workforce structures, information technology systems, insurance coverage, and risk management programs to ensure operational readiness and continuity.”
RBC Capital Markets and Bank of America are serving as underwriters for the bond sale that is expected to fund the Eldora purchase.
The financing will be structured through revenue bonds, meaning that repayment comes only from the resort’s operating revenues such as lift tickets, rentals, food and beverage, and related activities, the town memo said. “This is not a general tax-supported obligation. No property or sales taxes revenues will be used for repayment, and residents will not bear any direct financial liability.”
The asset purchase agreement set for review this week, “sets forth several key closing conditions, including approval by the U.S. Forest Service for issuance of a new special use permit to the Town; finalization of an agreement with Alterra Mountain Company (Ikon Pass); and receipt of necessary third-party consents for material lease assignments,” the memo said. “The Town is not obligated to close the transaction unless bond financing is successfully completed, ensuring that no liability is incurred absent full funding.”
Nederland and Powdr are hammering out a two-year transition agreement “to ensure seamless operations as ownership transfers,” the town said. “This agreement allows Powdr to continue providing critical management, technical, and administrative support during the early stages of Town ownership.”
Additionally, the parties are working “to ensure a smooth experience for employees,” according to the memo. “This includes maintaining employment continuity, benefits, and retirement programs through the transition.”
In July, Nederland said that after the sale is complete, “all current Eldora employees will become Town employees, adding about 700 people to our municipal staff.”
