Bank Reclaims Elk Meadows

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Publish Date

01/25/2005

SAM Magazine--Beaver, Utah, Dec. 28, 2004--The Nimbus Loan Fund has repossessed Elk Meadows ski area in southwestern Utah from former owner Wayne Case for $1 million, with hopes that new management can turn it into a going concern. Nimbus is said to be seeking a new management group for the 450-acre area, located 250 miles northeast of Las Vegas.

Founded in 1971, Elk last operated in the 2001-02 season. According to an AP report, Nimbus had invested $3.6 million with Case. The area owes Beaver County nearly $200,000 in back taxes and another $800,000 on bond payments stemming from road improvements, water lines and a new water tank that were installed a few years ago.

The area could have long-term potential, according to Ski Utah president Kip Pitou. It currently has a 1,400 vertical drop, but that could double with expansion to the summit of 12,000-foot Mt. Holly. Annual snowfall averages 400 inches. And the property includes 1,400 acres of private land, so real-estate development is a distinct possibility. \

Comments

No Place Better

Our family learned to ski at Elk Meadows (well, the older kids did). We've been hoping and waiting for the comeback, as my younger kids still haven't had the chance. We're from L.A. and don't know another place that is so perfect for the family ski experience. HURRY!!!
Ellen A.

elkmeadows

can't wait to work the slopes
da from pa \

Mike S.

Being an Elk Meadows fan, I hope this will be the beginning of sound management of this resort. I live in St. George, and drive past Brian Head to patronize Elk Meadows. The terrain is superior. I believe with correct management, all the key elements are in place for a profitable resort.
M.S.

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