Gov. Hassan Signs Off On Balsams Redevelopment Bill

May 20, 2015

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.