Jul 19 2010

Cuchara Ski Resort Trades

Published by at 9:39 pm under General Information

The Cuchara Mountain Ski Resort has now officially changed hands.  As I reported some months ago, the owners were feeling pressure from the major lien holder and a foreclosure or Deed in Lieu was in the works.  Well this past week, the deed was officially recorded to effect that transfer.  Mr. John Bryant  transferred his ownership to Mr. Mike Balloun (for about $700,000 debt)

Mr. Balloun has not yet released information of his intentions, but hopefully he will begin plans to either move forward toward mountain ski and recreational plans or to sell to someone who will.  The tax revenues and jobs created could be a real boom to the Cuchara Valley area.

5 responses so far

5 Responses to “Cuchara Ski Resort Trades”

  1. Paul Machmulleron 20 Jul 2010 at 8:52 am

    Fingers crossed!! Can you imagine the impact to the area???
    jobs, entertainment, tourism, retail, rental, homes sales, condos, everyone would benefit from the area becoming an ecomomic boom!! All of Southern Colorado would be affected in a positive way.

  2. Plum Crazy Robon 22 Jul 2010 at 9:49 am

    So this deed-in-lieu is a complete transfer of ownership, and the other two parties formerly involved as owners were already out of the picture??? Help me out here, I’m a summer-only resident (unfortunately, I might add) so I must have missed a few pages along the way….

    Sounds like great news…

  3. Bill Newcombon 22 Jul 2010 at 5:35 pm

    This sounds like a man helping his friend out in times of need, a nice thing to do! I would love nothing more than to see the re-birth of the ski hill, but this transaction seems little more than paper shuffling. I hope I am wrong.

  4. Jerryon 23 Jul 2010 at 8:20 am

    I agree that this may leave us with more questions than answers. Deed-in-Lieu is typically a more amicable title transfer than an outright Foreclosure. But what happened to minority owner Curtis Bruner? And why would Bryant give it up so easily? Could be because there are lots of other big liens against the property too. Those don’t automatically go away and Balloun may be left with liability of those liens too. Hopefully Mr. Balloun has a vision for the mountain and the capital to implement that plan. I hope this is a first step toward a new beginning to revitalize the ski mountain opportunities.

  5. Plum Crazy Robon 24 Jul 2010 at 6:51 am

    Hmmm, very interesting, thanks and please keep us updated with add’l info as it becomes available – have not seen this mentioned anywhere else…?