Questions The Balsam's Bailout.
The Balsam's in Dixville Notch is surrounded by bad history.
Opened in 1865 the hotel thrived at a time when for 90% of the population reality was pretty grim. Each day thousands of low paid workers from across New England would wearily trudge into mills in Lowell, Lawrence, Manchester, Sanford and closer areas like Groveton, Berlin and some sources say even Littleton.
The history books actually enhance this era of grand hotels or gilded era. Scenes of cloistered opulence with crystal glasses and fine china appear while the grim reality in the lower castes of society were simply ignored.
Today the Balsam's looks like a "broken dollhouse." It's worse than this. It's developer like Les Otten is attempting to sell the idea of a $28 million dollar state backed loan guarantee and more recently, a "credit enhancement" to push this risky project forward. And similar to it's bad history, reality goes largely ignored. Instead it's all about advanced ski areas and unnamed out of staters giving deposits for imaginary condos and nothing is said about what this bailout real estate deal does for New Hampshire.
With bad history as a guidepost it will be nothing.
Update: It's my understanding that the Business Finance Authority has delayed the vote on the state loan guarantee until the mid part of May 2018.
Opened in 1865 the hotel thrived at a time when for 90% of the population reality was pretty grim. Each day thousands of low paid workers from across New England would wearily trudge into mills in Lowell, Lawrence, Manchester, Sanford and closer areas like Groveton, Berlin and some sources say even Littleton.
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| Cloistered Opulence At Risk To The NH Taxpayer. |
The history books actually enhance this era of grand hotels or gilded era. Scenes of cloistered opulence with crystal glasses and fine china appear while the grim reality in the lower castes of society were simply ignored.
 |
| $28 Million Proposed Bailout For This Property. |
Today the Balsam's looks like a "broken dollhouse." It's worse than this. It's developer like Les Otten is attempting to sell the idea of a $28 million dollar state backed loan guarantee and more recently, a "credit enhancement" to push this risky project forward. And similar to it's bad history, reality goes largely ignored. Instead it's all about advanced ski areas and unnamed out of staters giving deposits for imaginary condos and nothing is said about what this bailout real estate deal does for New Hampshire.
With bad history as a guidepost it will be nothing.
Update: It's my understanding that the Business Finance Authority has delayed the vote on the state loan guarantee until the mid part of May 2018.
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