Business Finance Authority

Chris Jensen for NHPR

The N.H. House has approved a bill that would allow a state-backed $28 million loan to the developer of the now-closed Balsams resort.

North Country legislators including Bill Hatch, a Democrat from Gorham, urged its passage.

“Please know that we are in dire need of any kind of economic development.”

Senate Bill 30 allows an unincorporated area – such as that around the Balsams - to become a tax district.

That alone doesn’t provide any money to the Balsams.

Chris Jensen for NHPR

Those who want to revive the Balsams resort went before the House Finance Committee Tuesday arguing in favor of a $28 million state-backed loan for developer Les Otten. And to nobody’s surprise the hearing was packed with supporters...

Many came down from the North Country, thrilled with the possibility of a huge economic boost and supporters included Executive Councilor Joe Kenney, who represents the North Country.

“This project is so important to the North Country you couldn’t believe it.”