Search Results for: Balsams

Les Otten Balsams

Les Otten’s Balsams Boondoggle Still Can’t Find Enough Financing to Proceed

It’s a sad tale of a boondoggling boondoggler (Les Otten) who sold the state on a plan. Jobs for the North Country he said. As far as the eye can see. Just approve this “loan guarantee” and the private money will fall from the sky. We’ll be paying you back in wheelbarrows full of business taxes before …

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Balsams Sits Idle While Otten Fishes for More Investors

Remember the fight to block taxpayer-backed loans for Les Otten’s Balsams Boondoggle? The legislature and then Democrat Governor Maggie Hassan gave it their thumbs-up*. Well, it’s still sitting idle while Les hunts for more private investors. That’s not a good sign. But this is. The New Hampshire Department of Transportation is putting the brakes on a …

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‘Balsams Boondoggle’ balloons to $40 million in taxpayer-backed funding

On Friday it was reported by New England Ski Industry that the amount of taxpayer-backed funding now being requested by Les Otten for the Balsams’ “renovation” is $40 million rather than the original $28 million. This on the heels of a report that Otten hasn’t even requested the proper permits to even begin working on …

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Governor Hassan proudly moves the ‘Balsams Boondoggle’ forward

Today Governor Hassan signed Senate Bill 30. The bill that many legislators kept saying wasn’t about the Balsams while others coined it the “Balsams Bill.” This is the boondoggle that is going to line the pockets of Les Otten while he attempts to rebuild the Balsams to create low-paying jobs in the North Country.

More Balsams Bailout

As a bill that would allow tax payer funded bailouts passed the NH House we discover the details of the financing agreement behind the boondoggle the bill was meant to fund in the first place.    

Another twist in the ‘Balsams Boondoggle’: The financing scam

On Wednesday a huge majority in the New Hampshire House voted to pass Senate Bill 30 aka the “Balsams Bill.” The bill allows “unincorporated places” to become a tax district, which also means they can now get funding from the state and have all taxpayers foot the bill if the deal fails. Of course, many …

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GrokTALK! – Balsams And Bailouts And Boondoggles, Oh My!

Senate Bill 30 makes changes to state law that could allow a never ending series of taxpayer backed bailouts of private ventures.  The first of these, which is what motivated the legislation, is the Balsams Bailout- a time-share resort / Money pit.  Kimberly Morin sat through the hearing for the bill and gives us an …

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‘Balsams Boondoggle’ continues with hearing on Senate Bill 30

Yesterday the New Hampshire House Finance Committee held a public hearing on Senate Bill 30 (SB 30). The bill is “AN ACT relative to the establishment of redevelopment districts in unincorporated places.” It also changes the amount of the bonds the state can guarantee from $25,000,000 to $28,000,000 (the exact amount “needed” for the Balsams …

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