Another effort to obtain financing for the renovation of the Balsams resort has fallen through.
The owners of the Balsams resort in Dixville Notch have run into another problem coming up with the $30 million needed to renovate the closed resort and put as many as 300 full or part-time employees back to work.
Owners Dan Hebert and Dan Dagesse hoped to use federally backed New Market Tax Credits to attract some investors.
But that has fallen through with a deadline being missed, says spokesman Scott Tranchemontagne.
Working largely on what amounts to the honor system state officials say they have decided state air pollution standards were not violated in a fire last January when two buildings at the Balsams resort were burned down as part of a renovation.
When the $30 million renovation of the Balsams Grand Resort is complete it will look a lot like the old grand hotel but will feature much-needed modern amenities making it far nicer for guests and a lot cheaper to operate.
That’s how Dan Hebert, one of the two owners, described the renovation Tuesday night before the Coos County Planning Board.
Originally the complex had about 400,000 square feet.
Hebert said about 123,000 of that is being retained. About 80,000 square feet will be added.
The Colebrook Planning Board Tuesday night removed what the new owners of the Balsams Grand Resort have said was an impediment to the redevelopment needed to allow hundreds of people to get back to work.
The walls and the hallways are largely empty today in one of New Hampshire’s oldest and grandest hotels. As part of the plan to rebuild and renovate the Balsams Grand Resort in Dixville Notch, the hotel’s new owners auctioned off many items this past Saturday. The goal was to sell everything but photos and items of historical significance.
The Colebrook Planning Board has called a special meeting May 22 to try and resolve an issue the new owners of the Balsams Grand Resort say is delaying its renovation.
The owners, Dan Dagesse and Dan Hebert, are asking the Planning Board to approve a subdivision that would separate a 28-acre parcel from the roughly 1,000 acres that currently includes the hotel, grounds and golf course.