NH Resources

 The Business Finance Authority is considering a $28 million dollar state backed loan guarantee for the Balsams resort up in Dixville Notch. I hope that it is rejected.   I've been following the BFA state loan guarantee program since 1994. It's a good program that in most cases the loan size is less than $11 million dollars which is secured with live collateral such as real estate, equipment, inventory, accounts receivable and signed contracts.   No Balsam's Bailout.   This Balsam's Bailout has none of this. Instead, it's a much greater, lofty idea based on reaching speculation and possibly gambling. Speculation that if it fails, causes substantial long-term liability and damage to the state treasury. This unprecedented state financed bailout also involves the use of the EB-5 program which is the exchange of visas for hard currency from places like China, Thailand and Malaysia. Our neighbors in Vermont recently had an experience with this same EB-5 program...

 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. 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 pr...