Balsams Loan Guarantee Moves Ahead, But Financing Questions Remain

DIXVILLE NOTCH — The effort to reopen the Balsams Resort has taken a “significant step forward on financing” with a request for a loan guarantee being filed with the state’s Business Finance Authority, Scott Tranchemontagne, a spokesman for the resort developer, said Tuesday.

But the announcement also raised questions about whether developer Les Otten has the remainder of the $170 million needed for the first phase of the project, which Otten says will give the North Country a much-needed economic boost with a world-class, year-around resort.

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