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What ever happened to Tamarack Resort in Idaho??

post #1 of 13
Thread Starter 

Last I understood the place was Bankrupt and out of business.  I just looked at their site and noticed a few things...

 

1) Season Passes for '10-'11 are $199

2) Open 7 Days a week, but only until March 4?

3) 2800 Vert and 1100 Acres sounds alot like Crested Butte

4) Everything is listed in relation to the '07-'08 season?

 

I heard nothing but good about this place before it closed.  Is it back up and doing well now?

post #2 of 13

Homeowners association voted to open it again this season and operate it. 5 of 7 lifts will be running. I heard 4 days a week.

 

I think they just need final approval from a lender, but it looks like it's full steam ahead.

post #3 of 13
Thread Starter 

They list the hours of operation as Daily.  It's not wise to sell Season Passes on the premise that it will be open every day, and then only open 4 days a week.  I learned that at Silver Mountain.

post #4 of 13
Quote:
Originally Posted by FujativeOCR View Post

They list the hours of operation as Daily.  It's not wise to sell Season Passes on the premise that it will be open every day, and then only open 4 days a week.  I learned that at Silver Mountain.

Most of Tamarack's website hasn't been updated since 2008, so I'm not convinced it's daily.

Quote:
Operating on a Thursday-Sunday limited schedule, Tamarack has begun season pass and lift ticket sales starting at $46 for a single-day adult lift ticket and $199 for an unlimited adult season pass.

 

 

Didn't you get some neato unlimited water park pass in exchange at Silver? haha

post #5 of 13
Thread Starter 

No I was employed there, I didn't get squat but less hours and less days on the hill.  But you're right I think that's what the midweek pass holders were offered...however I don't think that's why they bought their Season "Ski" Passes there, and none were too happy.

post #6 of 13

is there any advantage to going to tamarack instead of brundage?

post #7 of 13
Quote:
Originally Posted by blvrcks View Post

is there any advantage to going to tamarack instead of brundage?


Yeah, the lifts will be running at Brundage. Last I read here in the paper, it's looking doubtful whether Tamarack will get its lifts running. The Homeowner's group needs a $2 million loan to make it happen and they have a lender lined up but the bankruptcy judge didn't approve it because of lender priority issues.

post #8 of 13

Last year a group tried assisting the homeowner's association to try to get it to open the lifts.  They started too late and weren't able to make it happen.  Then last April Tamarack converted from a Chapter 7 bankruptcy to a Chapter 11 restructuring in hopes of bringing some buyers to the table.  I heard they had some offers, but they were substantially less than what they were looking for.  

 

Then a few months ago a deal was made where the existing creditors would give the homeowners $2 million to get the lifts turning for the year but only if the folks who had been hanging on to the pieces of Tamarack stepped aside and gave up all ownership.  (Amazingly, I think this was still Jean Pierre at the helm trying to resuscitate, but I could be wrong on that.)  Anyway, that group left and now the plan is for new leadership and new staff to get the lifts running again while the creditors group looks for a new buyer.  

 

I know there were questions last year regarding the status of the lifts since they were never properly mothballed when Tamarack shut down and regular maintenance hadn't been done.  If they think they can open in December, then I'm sure this issue has been solved - it takes a while to get lifts ready to run and they would have already had to have started.

 

A lot of good people lost their jobs at Tamarack.  If you're on Facebook, look up the "Tamtanic" group.  The Wall is pretty amusing.

post #9 of 13


 

Quote:

Originally Posted by vinn View Post

Then a few months ago a deal was made where the existing creditors would give the homeowners $2 million to get the lifts turning for the year but only if the folks who had been hanging on to the pieces of Tamarack stepped aside and gave up all ownership.  (Amazingly, I think this was still Jean Pierre at the helm trying to resuscitate, but I could be wrong on that.)  Anyway, that group left and now the plan is for new leadership and new staff to get the lifts running again while the creditors group looks for a new buyer.  

 

The key fact is that the bankruptcy judge did not approve the $2 million loan so things are still at a standstill as far as skiing this year goes. The problem with the $2million was that it included priority for repayment over the existing debt. That probable diminution of the payments to existing creditors is what lead the judge to say no. Certainly there is a chance that a revised new debt package can be arranged, but as Vinn noted the clock is already running. 

post #10 of 13

They needed to come up with $125,000 for  the US Forest Service lease by Oct.31, 2010. Part of needed $2 Million.

Were to open Thursday through Sunday with season passes for $199. but it is all falling through apparently.

Monies for season passes were being held in escrow so $$$ could be returned to buyer, if deal falls through.

The northern most lift was not going to open; IMO, the best skiing on the mountain.

post #11 of 13
Quote:
Originally Posted by TrickySr. View Post

They needed to come up with $125,000 for  the US Forest Service lease by Oct.31, 2010. Part of needed $2 Million.

Were to open Thursday through Sunday with season passes for $199. but it is all falling through apparently.

Monies for season passes were being held in escrow so $$$ could be returned to buyer, if deal falls through.

The northern most lift was not going to open; IMO, the best skiing on the mountain.

The Idaho Statesman said the lease payment was $250,000 and the due date was Nov. 5. Big bucks under the circumstances, either way
 

post #12 of 13
They owe the state Dept of lands the resort is not on F.S. land. The bigger mtn which Tamarack wanted is on F.S. land but that is not where they ended up.
post #13 of 13
Quote:
Originally Posted by mattsteel5 View Post

I think they just need final approval from a lender.


I seriously doubt they will get it.

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