DESTINATIONS:

Idaho group makes $40M pitch to revive Tamarack ski area

Nov. 22, 2010 — The Canadian Press

BOISE, Idaho — A newly formed company based in Eagle, Idaho, is making a $40 million bid to buy the failed Tamarack ski resort in central Idaho.

Officials from Green Valley Holdings LLC announced the bid Monday to buy the assets of the resort from owner Jean-Pierre Boespflug. The French-born businessman is the majority owner and has been courting buyers in recent months in an effort to keep the resort in one piece.

He is locked in a bankruptcy battle with lenders led by Credit Suisse, which is owed $300 million from an unpaid construction loan.

Green Valley Holdings co-founder Matthew Hutcheson said the company was formed specifically to buy Tamarack and finish construction projects mothballed for months.

The last skiing at Tamarack was in March 2009, when bankers refused lending Tamarack any more cash and shut down ski lifts.

S-Magazine