New Ketchum Hotel Moving Forward With Major Tax Reimbursement

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Plans for a new high-profile lodge in the Sun Valley area cleared a major slalom gate this week when developers closed on a parcel of downtown Ketchum property where they want to build a 119-room hotel. Plans for the development, dubbed Bald Mountain Lodge, also include a number of residential units.

This morning's Idaho Mountain Express reports that Colorado-based developer Aspen Skiing Co. wants to model the Ketchum hotel on the Limelight Hotel in Aspen, Colo., which it also owns.

“We feel the timing is right to grow the Limelight brand and that this property in downtown Ketchum is an ideal location," spokesman Don Schuster told the Mountain Express. "We look forward to being a part of this great community.”

Initial plans include 100 guest rooms, a lobby restaurant and an large lounge. All-in, developers say the project could top $50 million. 

It turns out that developers could realize a significant tax break windfall. The Mountain Express reports that the hotel would qualify for the Idaho Tax Reimbursement Incentive, which pushed $132,000 to developers at the beginning of December, following an application and review process. That figure represents a 16 percent tax reimbursement because the development will create new full-time jobs that pay more than the median county wage, according to the Mountain Express.

COURTESY ASPEN SKIING COMPANY
  • Courtesy Aspen Skiing Company