To pay for Eldora, the town will issue municipal revenue bonds “backed only by the resort’s earnings, which is profitable enough to service the debt.”

On Tuesday, the town of Nederland made a big announcement: The town is buying the Eldora Mountain Ski Resort, and hopes to have the purchase finalized by October. “We promised from the beginning that we would bow out of this opportunity at any point if it didn’t make sense.

After months of negotiations, Nederland officials announced July 8 they signed a letter of intent to finalize the purchase of Eldora from POWDR. The cost of the deal was not disclosed. The town plans to issue municipal bonds to fund the acquisition, which will add about 700 mountain staff to city ranks.