“The opportunity that this town is about to receive is pretty phenomenal. It’s been a dream I’ve had personally my whole life, so I’m looking up to you right now. Do it right! You guys got this! Idaho Springs should be jealous!””

Idaho Springs resident

NEDERLAND - On Thursday, July 10, 2025, the Nederland Board of Trustees (BOT), as well as representatives from Town staff, from POWDR, and from 303 Ski gathered on stage in the Backdoor Theater at the Nederland Community Center for a “Work Session” to highlight the Town having signed the Letter of Intent to purchase Eldora Mountain Ski Resort. 

After first announcing their plans to throw Nederland’s hat in the ring for the acquisition back in November of 2024, Town representatives held meetings to iron out some of the financial and legal logistics before entering into a phase of due diligence and a subsequent non-disclosure agreement (NDA). 

On January 7, 2025, the BOT approved submitting a letter of interest for a Great Outdoors Colorado (GOCO) Land Acquisition Grant to assist in funding a fraction of the potential acquisition.

At that meeting Trustees also approved acquiring the services of Northland Securities as Town’s underwriter, a position required as a result of the Town’s considering using municipal bonds for the pursuit of Eldora. 

Just two weeks later the BOT voted unanimously to approve Ordinance 873, officially “establishing an enterprise fund for ski recreation to support the Town's strategic efforts regarding the potential acquisition and operation of the Eldora Ski Area.”

On April 15 the BOT approved the ratification of a signed, non-binding Letter Of Intent with J.P. Morgan Securities LLC. as an underwriter regarding the issuing of revenue bonds as a financial device for the potential acquisition.

And on May 20, the Board approved giving Town Administrator Jonathan Cain the authority to retain financial advisors and underwriters specifically for the Town’s attempt at acquiring Eldora. 

Since the original announcement last winter the BOT has held closed sessions on purchasing property for the purpose of recreation on January 7, January 15, March 24, April 29, May 20, and May 30. Additionally, there was no mention of the progress on the Eldora acquisition within the State of the Town presentation on June 17.

Then, on Tuesday, July 8, POWDR issued a press release announcing the start of the acquisition process between the Town of Nederland and the ski conglomerate.

“Talks began last fall, accelerated after January 10, 2025, when the town signed a confidentiality agreement, and reached the signed term sheet on July 8, 2025,” Nederland’s official Eldora Mountain Acquisition FAQ 3.0 document reads.

“A term sheet is a high-level ‘rulebook’ both sides will follow as we negotiate the final purchase agreement. If all goes smoothly, we could finalize the purchase by the beginning of October 2025.”

The news ignited Colorado and even national media outlets, and brought a flurry of cameras and reporters to the streets and businesses of Nederland on Thursday the 10th. 

At 6:30 p.m., those media outlets, along with The Mountain-Ear, having staked out the auditorium for a good vantage point, set up shop and hit record as soon as the red curtains were drawn, revealing the panel sitting in a semi circle facing the crowd, baking under the hot stage lights. 

Mayor Billy Giblin, Mayor Pro Tem Nichole Sterling, and Trustees Kristopher Larsen, Tierney Maris, and Aaron Tye were on stage, along with Town Manager Cain and Town Attorney Jennifer Madsen, representing the Town of Nederland. They were joined by Brian Dobias, CFO of POWDR, and Dave Belin, Dwight DeBroux, and Justin Gold of 303 Ski.

“I want to thank POWDR for everything that you’ve done,” Giblin said, praising them for their years of dedication and investment into the mountain. “We also want to thank you for deciding to sell,” he joked. 

Giblin also praised 303 Ski, the “coalition of Front Range ski-industry veterans” who seemingly formed with the intention of committing their expertise to helping shepherd the deal between POWDR and the Town of Nederland, and to provide “operational stewardship for Eldora in the years ahead.”

“I appreciate the experience you all bring: the ski industry experience and business knowledge,” Giblin said, then, motioning to all those on stage with him, “Everyone here has been able to pivot and think on their feet as well as stay grounded and we couldn’t have done it without them.” 

“Cautiously optimistic” became the phrase of the night, once the public took the microphone. For the next hour, several people walked up to the podium to state their concerns, their excitement, and their congratulations, as well as to ask their questions. 

Individuals representing the residents of Nederland, Boulder, Idaho Springs, and of Eldora itself spoke to the panel on stage, as well as property owners, business owners, Town employees, and employees of the ski mountain, both past and present.

They asked for financial transparency regarding the purchase, the predicted yearly revenue, and the partnership between the Town of Nederland and 303 Ski.

There were also calls for clarity on many aspects of Nederland’s management over Eldora, including the 700 or more Eldora employees that are about to become Town employees, as stated in the press release.

“I don’t buy that this won’t cost our taxpayers money,” local resident and public service volunteer Rich Orman said.

“Town employees will need Town personnel to onboard them, to take care of their benefits, insurance, workman’s comp. How does that not come out of the town budget? I would hate to see this result in budget decisions to cut something else because the money’s not there.”    

“The labor rights movement in the ski industry has been very prevalent the last few years,” Nick Lansing, the President of the Eldora Ski Patrol Union said. “Unfortunately we have experienced antagonism from POWDR throughout the process we’ve gone through. I think we’d all be interested to know what the Town’s approach to labor negotiations would be.”   

Lansing also asked for more details regarding the mention in the Town’s FAQ’s of the possible expansion of employee benefits.   

There were a few, concerned as to how the Peak to Peak area will change as a result of this acquisition, who asked about the potential effects to traffic and noise pollution, as well as to local wildlife. There were also questions on the Town’s plan to annex land in order to establish summer activities on the mountain.  

According to the FAQ 3.0 released by the Town: “after the acquisition, annexation would let the Town control land use and collect sales tax, which could add $1 to $2 million in annual revenue to the Town’s general fund.”

“Parking. Traffic. Housing. Wildlife,” Kayla Evans mused. “These are things that we’ve been trying to grapple with and they all need to be addressed, and there comes a price tag with all of this.”

Evans’ family owns and operates Arapahoe Ranch and has been attempting to work with the Town for over a decade on having a 17-acre stretch of property near Eldora be annexed into the Town of Nederland for the development of Bobcat Ridge, a proposed housing complex.

The Work Session was an opportunity for the public’s voices to be heard. However, neither Cain nor the BOT provided any direct answers to the community’s questions, seemingly as a result of the Town still being involved in an NDA. 

“We won’t really be addressing or answering questions specifically,” Mayor Giblin explained at the beginning of the session. “Those answers will come forth as we have to balance transparency and public engagement with the need for some confidentiality and the fact that we’re in an ongoing diligence process.” 

But in addition to all the skepticism, there was also excitement, with several members of the crowd exclaiming how “stoked” they were on the historic acquisition.

“The opportunity that this town is about to receive is pretty phenomenal,” a resident of Idaho Springs said. “It’s been a dream I’ve had personally my whole life, so I’m looking up to you right now. Do it right! You guys got this! Idaho Springs should be jealous!”

“It’s an experiment,” a longtime Eldora resident and occasional employee of the ski mountain since 1982. “Let’s get it done and let’s do it well.” 

Before the meeting was closed, Dobias from POWDR shared some words of appreciation to the Town of Nederland and to the staff of Eldora Mountain Ski Resort. 

“I do want to thank the Town of Nederland and 303 Ski. It’s been great partnering with you guys and I’m looking forward to the rest of the process,” Dobias said. He also thanked the Nederland community for their warm hospitality, having recently moved to the area to help with the General Manager transition at the ski mountain. 

“I also really want to thank the employees of Eldora. I know it’s not easy going through a transaction. I’ve been really impressed by the hard work and dedication of the team who are really committed to providing a great experience for the guests at Eldora.”    

“We’re here because of the dedicated group on this stage who believed in the idea, rolled up their sleeves, stayed focused and worked through obstacles as they came up with positivity and continued to come up with creative solutions,” DeBroux from 303 Ski said to the crowd. 

DeBroux has become a prominent figure in local politics, having brokered this historic partnership with the Town of Nederland, and having recently joined the Nederland Downtown Development Authority as the owner of the Nederland General Store. 

“We’re truly trying to build something great here for the community, a new model where the resort, its employees, and the town are all unified and can thrive together.”

When the meeting was called to an end, there was a rush of media and public to the stage, some hoping for an exclusive quote or some morsel beyond what POWDR’s press release was permitted to provide, others looking to congratulate the team on stage for taking a swing and connecting with a hit. 

Over the weekend, negative opinions online endlessly echoed and talk of the Eldora acquisition could be heard at all of Nederland’s restaurants and breweries. The unanswered questions left hanging from Thursday’s meeting spawn new queries, but it is clear that the community will have to wait for substantial answers, and that only time will tell if Nederland’s swing and a hit will be a home run or a foul ball.