Nederland Makes History With $120 Million Purchase Of Eldora Mountain Resort

In a landmark decision that could reshape Colorado's ski industry landscape, the Town of Nederland Board of Trustees voted Thursday to approve the purchase of Eldora Mountain Resort for $120 million, making it one of the first municipally-owned ski areas in the United States.
The 4-1 vote, which came after months of heated public debate and financial analysis, will transfer ownership of the popular Front Range ski area from its current private owners to the mountain town of approximately 1,600 residents located just 17 miles west of Boulder.

"This is about preserving accessible, affordable skiing for generations to come," said Nederland Mayor pro tem Katrina Miller following the vote. "Eldora has been part of our community's identity for over 60 years, and this purchase ensures it remains a place where families can ski without breaking the bank."

The acquisition will be financed through a combination of municipal bonds, state grants for outdoor recreation, and a proposed partnership with Boulder County. Town officials project the resort will generate sufficient revenue to cover debt service while maintaining current operations and potentially expanding affordable season pass programs.

To fund the purchase, Nederland is utilizing a sophisticated financial structure known as Mountain Recreation Enterprise Revenue Bonds.

• No Taxpayer Risk: The bonds are backed solely by Eldora’s operating revenues—including lift tickets, rentals, and food and beverage sales.
• Town Liability: Town officials have stated that local property and sales taxes will not be used to repay the debt, insulating residents from financial underperformance at the resort.
• Economic Driver: Once the debt is serviced, the town projects the resort could generate over $5 million in annual free cash flow for local infrastructure and services.

While the purchase agreement is approved, the mountain will not change hands overnight. The deal includes a two-year transition period during which POWDR will continue to provide management, technical, and administrative support.

Following the transition, day-to-day operations are expected to be handled by 303 Ski, a coalition of Colorado industry veterans. Most significantly for the workforce, Eldora’s approximately 700 employees will eventually become municipal staff of the Town of Nederland.

Eldora, which sits at the base of the Indian Peaks Wilderness and serves an estimated 300,000 skiers annually, has long been favored by Front Range residents as a more affordable alternative to the state's mega-resorts. The mountain features 680 acres of skiable terrain and is known for its proximity to the Denver metro area.

Supporters of the purchase argue that municipal ownership will protect the resort from potential acquisition by large corporate ski conglomerates and allow the town to prioritize community access over profit maximization. The deal includes provisions to maintain current employee wages and affordable ticket pricing for at least five years.

However, critics have raised concerns about the financial risk to taxpayers and whether a small mountain town has the expertise to operate a major ski resort. The lone dissenting vote came from Trustee James Morrison, who warned that unfavorable snow years or unexpected maintenance costs could burden residents with debt.

"I love Eldora as much as anyone, but $120 million is an enormous gamble for a town our size," Morrison said. "We're taking on tremendous financial responsibility."

The town also plans to annex the resort, a move that would allow Nederland to collect an estimated $2 million in annual sales tax revenue and gain direct control over land-use decisions. This authority is expected to be used to prioritize workforce housing and childcare—two of the most pressing issues for the local labor force.

"Our vision is to build on Eldora’s legacy and create a community-driven, sustainable, year-round destination," said Mayor Billy Giblin. Future plans include expanding summer programming like mountain biking and hiking to ensure the mountain remains an economic driver outside of the ski season.

For the thousands of Front Range skiers who call Eldora home, the town has made one thing clear: The "vibe" stays. * Ikon Pass: Eldora is set to remain on the Ikon Pass for the foreseeable future, pending a final agreement with Alterra Mountain Company.

Access: Maintaining its reputation as the "slow-down" alternative to the I-70 corridor remains a primary goal for the new ownership.

The deal is expected to officially close later in 2026, pending final bond issuance on January 20 and the approval of a special-use permit from the U.S. Forest Service.