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House To Vote On Bill Leading To $28M Bond For Balsams

The sale of the Balsams in Dixville Notch is a mixed event for the North Country, says reporter Chris Jensen. Planned renovations mean hundreds of workers will be out of work for up to 18 months, but it could mean increased tourism in the long term.
Chris Jensen, NHPR
The sale of the Balsams in Dixville Notch is a mixed event for the North Country, says reporter Chris Jensen. Planned renovations mean hundreds of workers will be out of work for up to 18 months, but it could mean increased tourism in the long term.

 

New Hampshire's House of Representatives is considering a bill that would pave the way for an ambitious plan to restore a faded North Country resort.

The bill would create a special taxing district allowing the state to back $28 million in bonds toward redeveloping the Balsams, which closed in 2011.

Maine businessman Les Otten is seeking the state-backed bond to help finance the $143 million Balsams project.

The bill has passed the Senate; the House considers it Wednesday.

Supporters say it would help create jobs. Opponents are worried that if the plan is unsuccessful, taxpayers would be on the hook for the $28 million bond.

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