The Tamarack Municipal Association, the owners’ association of Tamarack Resort, announced Thursday it will operate the resort after homeowners successfully acquired substantially all of the assets of New TR Acquisitions Co. LLC, which owned most of the property at Tamarack Resort.
A group of homeowners established Tamarack Homeowners Acquisition Company to acquire NEWTRAC’s resort assets which will now be operated by a newly-established TMA subsidiary, TMA Operating and Technology Company also known as “TMATO”. It will operate skiing, food and beverage, and lodging and summer operations “with no interruption of services to resort guests,” according to a news release.
“In connection with the acquisition of NEWTRAC’s assets, THAC has redeemed the chairlifts, the zipline course and mid-mountain lodge by paying off all outstanding liabilities so that these critical operating assets will no longer be subject to auction by Valley County,” said Brad Larsen, General Manager of Tamarack Resort
“Today marks the start of a new chapter for Tamarack where homeowners have secured the future ownership and operations of the resort,” Larsen stated. “It is a powerful statement of support and ensures the long-term future of this incredible destination for guests, employees and homeowners as well as the wider community in Valley County and the State of Idaho.”
“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,” he added. “This ensures that the people who love the resort the most now also control its future.”
In 2004, Tamarack Resort welcomed its first guests and became one of the first destination ski and summer resorts to open since Deer Valley, Utah and Beaver Creek, Colorado opened in in the early 1980s.
Larsen said Tamarack Resort intends to begin making snow in November, with a projected opening date of Friday, December 9th.
