DONNELLY -- After months of uncertainty over whether the popular ski resort near Donnelly would by parceled up and sold to the highest bidder, management said Thursday the future of Tamarack is secure.
The Tamarack Municipal Association, made up of a group of nearby homeowners, will take over the day-to-day operations of the ski lift after acquiring the resort from New TR Acquisitions Co. LLC (Newtrac.) Newtrac previously owned much of the property at the resort.
"The best thing about this sale today is stability. The resort has all the assets it needs to operate this winter and long into the future," Tamarack General Manager Brad Larsen said.
The ownership shift comes just in time for Tamarack, which has undergone years of upheaval following bankruptcy in 2008.
The Tamarack Homeowner's Association ran the ski resort between 2012 and 2014. Newtrac took over operations, according to Valley County, but failed to pay hundreds of thousands of dollars in property taxes.
An auction to sell off chair lifts, a zipline and a half-finished lodge was set for Monday.
Those pieces of the resort are no longer in jeopardy, according to Larsen, who says the homeowners paid off the back-taxes as part of the acquisition.
Larsen says the changeover protects the future of Tamarack's ownership and operations.
"This is a very positive development for everyone. This important milestone clears the way for the TMA to work with third party developers and investors to realize the vision of Tamarack and reach its full potential," Larsen said in a release. "This ensures that the people who love the resort the most now also control its future."
The golf course at Tamarack is still owned by a third-party, RSPT, a 401(k) fund. Larsen says the hope is that one day the resort can get that back.
Valley County Commissioner Gordon Cruickshank says there are more parcels of land in the Tamarack Resort. Cruickshank says the owners have until October 17th to redeem those parcels before Valley County auctions them off to pay for the taxes.
Cruickshank told KTVB the opening of the resort will assist in the economy for Valley County.
Tamarack will begin making snow in November and has set a projected opening date for Friday, Dec. 9.
Copyright 2016 KTVB