In a unanimous vote Tuesday night, the Town of Nederland’s Board of Trustees approved a $120 million agreement to purchase Eldora Mountain Resort, bringing the town a step closer to becoming the newest municipality to own and operate its own ski area.
The decision comes after more than a year of planning and negotiations between the mountain town of roughly 1,500 residents and POWDR, the Utah-based company that has owned Eldora since 2016. POWDR publicly announced its intent to sell the resort in 2024, setting off months of board meetings, community discussion and negotiations.
According to a spokesperson for POWDR, Eldora will remain on the Ikon Pass, at least for now. But questions remain about the timing and logistics.
“Regarding the transition, that question is a bit hypothetical, not knowing when the sale will be final,” a POWDR spokesperson said in a statement to CPR News.
POWDR noted it has experience selling and transitioning ski resorts during active seasons — including Killington Resort in 2024 and SilverStar in 2025 — and said it plans to “ensure a smooth transition regardless of timing.”
Under the agreement, Nederland plans to finance the purchase by issuing revenue bonds backed by Eldora’s earnings — including lift tickets, rentals, and food and beverage sales. Town officials say the bonds will not be backed by local tax dollars, meaning taxpayers would not be directly responsible if the resort underperforms.
The board’s vote authorizes the purchase agreement, but the deal is not yet final.
Next steps include issuing the bonds, completing remaining legal and regulatory approvals, and finalizing a transition plan. POWDR is expected to continue operating the resort during an initial transition period while the town prepares to take on full ownership and management responsibilities.
