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Gov. Hassan Signs Off On Balsams Redevelopment Bill

Paige Sutherland for NHPR
Gov. Maggie Hassan signs off on a bill that will move forward the redevelopment of the Balsam's Resort.

Governor Maggie Hassan has signed into law a bill that allows the state to back $28 million in bonds to help pay for the redevelopment of the Balsams.

The resort closed in 2011.  And Hassan says re-opening it is worth the state’s investment.

“It is so important that we find a way to redevelop the Balsams it has been such an anchor for the economy up there, and that of course has a ripple effect for the whole state."

The state-backed bond will help Maine businessman Les Otten fund the $143 million he estimates is needed to reopen the Dixville Notch resort.

The bill also raises the bond limit for a single project from $25 million to $30 million.

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