North Country
12:23 pm
Thu February 14, 2013

New Balsams' Owners Have A Plan But Still Need Money

Last May most of the furnishings of the Balsams were sold at an auction. Photo by Chris Jensen.

The new owners of the Balsams resort in Dixville Notch will be taking a plan for renovations to the Coos Planning Board later this month. But they have yet to come up with the financing.

The owners, Dan Dagesse and Dan Hebert, have filed an application for a building permit, said spokesman Scott Tranchemontagne.

“The reason we are doing this is to be pro-active, get ahead of the process a little bit and try and get all of our permits in hand so that when we are able to secure all the financing that we need to start construction…we can get right to work,” said Tranchemontagne.

However, that financing is not yet worked out.

“It is a complex package that draws on money from various sources and while we have made great progress we still have a few more items to finalize,” Tranchemontagne said.

Last year one source of financing – historic tax credits – fell through. The hope was to use the federal tax credits as one of several ways to attract investors.

The credits are available for the renovation of certified historic properties – like the Balsams. But plans to tear down a portion of the old complex meant the credits might not be available.

The Coos Planning Board will consider the plan on February 26 in Lancaster at the North Country Resources Center 629 Main Street.