Nederland’s first town council meeting of 2026 wasted no time: Trustees unanimously approved the purchase of Eldora Ski Resort from POWDR Corporation, setting the roughly 1,500-resident community on course to buy the mountain through revenue bonds and operate it without raising taxes. The $120 million deal now hinges on financing, federal approvals and final agreements that will determine how — and when — the town takes control.
Trustee and Mayor Pro Tem Nicole Sterling became emotional as she thanked staff, consultants and volunteers who worked hard to get them to this approval stage.
“It has been a colossal effort and I just, you know, looking at it to get to this point is really cool.”
If completed, the purchase would make Eldora the 10th ski resort in Colorado owned by a town or municipality, according to an FAQ published by the Town of Nederland. Other municipally owned resorts include Winter Park (owned by the City and County of Denver), Howelsen Hill (owned by Steamboat Springs) and Ski Cooper (owned by Lake County).
Several conditions remain before the sale can close. The town is awaiting a new special use permit from the U.S. Forest Service, which is required to run the resort because Eldora’s roughly 700 acres are a patchwork of private and federally managed land. The town is also negotiating with Alterra Mountain Company to remain on the Ikon pass, which gives skiers access to over 60 resorts worldwide and could be a key revenue stream for Eldora’s future operations.
The final and most consequential step will be securing revenue bonds to finance the purchase. The bonds would be repaid through resort revenue rather than tax dollars. The town is working with two banks, RBC Capital Markets and Bank of America, to underwrite the bonds and help market them. If the bonds are not secured, the purchase agreement would be terminated and the town would not be on the hook for any purchase fees.
Town officials have not yet disclosed how much they will seek in bonds, other than that the amount will not exceed $180 million. They have said proceeds would cover the $120 million purchase price, costs incurred during due diligence and other preparations, and a two-year operating reserve. The town has not yet shared assumptions about expected resort revenue or a bond repayment timeline.
All of the resort assets will be managed by the town’s Mountain Recreation Enterprise, which was established in January 2025 to keep Eldora finances and operations separate from other municipal functions. The board of trustees will act as the town’s oversight body and ensure community alignment, while resort management will run day-to-day operations. Through public trustee meetings, town residents will be able to hear and comment on issues that arise.
Once all conditions are met, and on the day the bonds are issued, the town would wire $120 million to POWDR, triggering a two-year transition period. During that time, POWDR would provide advisory, administrative and enterprise support services for a fixed fee, gradually stepping back from day-to-day operations to ensure a smooth transfer.
There was no public comment on the agreement at the Jan. 6 meeting, though previous meetings have reflected cautious excitement alongside questions about how local ownership could expand Eldora’s role in the community. Ideas raised in past discussions have included summer programming, expanded Nordic offerings and broader year-round recreation.
One potential opportunity could emerge if the pending purchase of Tolland Ranch by Colorado Parks and Wildlife is completed. That acquisition could allow access to Eldora’s Nordic trail system from the West Magnolia area, creating new opportunities for mountain biking and trail connections.
The town has created a capital maintenance plan for routine upkeep but has not yet released details on expected improvements, though officials have pointed to the aging Corona lift as one possible example. POWDR recently built a new lodge at the base and has spent about $10 million a year on improvements. The town, however, expects to spend around $2 million a year on maintenance based on POWDR’s own assessments.
For Nederland, the deal comes at a pivotal moment. The town is still reeling from the heartbreak of the recent fire that destroyed 18 businesses and 30% of its tax base. Especially against that backdrop, the Eldora purchase is seen as a bright spot for the future.
“We’ve really taken this on as, like, the future of our town, and not taken this decision lightly,” said Trustee Luke Miller. “Mostly, I’m excited about the community connection part of it. This thing that will bring the ski area into something that supports our community but also that can make operational decisions with a community focus instead of what just brings in more dollars.”
The town is expected to hold another meeting on Jan. 20 to consider approval of the bond ordinance, a key step toward issuing the bonds.
I wish Nederland well, but I can’t help think that buying a ski resort in the Front Range might be a huge risk. Many times I’ve skied there and looked down towards Boulder and points east where the temperatures were in the 50’s and sometimes 60’s while I stood on snow and wondered how long Eldora’s skiing would survive.
@g Lovell, Eldora’s temperatures are in line with other ski areas in Colorado. It is some 4000+ feet higher in elevation than Boulder, so the comparison is fairly meaningless. It may not get quite the volume of snow of some “top tier” resorts, but that’s more to do with positioning relative to the divide than temperature. Of course, climate change puts all Colorado skiing at risk as this winter is showing us, but my view is Eldora is no better or worse off than other resorts in that regard, and that’s mainly a risk of shorter seasons than outright elimination. It’s also a smaller resort and as a result has much better snowmaking coverage than many larger resorts.
All that’s to say, in my view, Eldora is in no way a marginal resort and is just as viable (or nonviable) as other Colorado resorts.
I wish them well, but 1,500 citizens taking on $120M seems crazy.