Bad Balsam's.

Update: Yesterday, I had a very good e-mail conversation with one of the state representatives that serves my district. We talked about the legislation itself, (SB 30) and I responded to his concerns about economic conditions and employment in Coos County. Which has been affected greatly by economic factors.

In any case, I'm confident that I at least advanced the idea that SB 30 should be found: inexpedient to legislate.

This is a draft of a letter to Editor that I'm working on:

Legislation is advancing in the statehouse that could have some very bad consequences for the future of New Hampshire. The Balsam's Hotel is in bad condition. The NH Treasury Should Not be A Bank That Grants Loans.

Senator Jeff Woodburn has introduced Senate Bill 30, which if passed will enable the Business Finance Authority to create a $28 million dollar state loan guarantee for the closed, dilapidated and rotting Balsam's Hotel in Dixville Notch. This is quite a concept. This means that the NH treasury and it's taxpayers will be used as collateral for a loan to private business.

Senate Bill 30 is bad legislation. Nowhere in the NH State Constitution does it state that the treasury can be used for a loan of this size, for any reason. And even if this loan were worthwhile, which this one isn't. The Balsams Hotel is in bad condition, its been closed since 2010 and my research revealed that it hasn't shown a profit since 1974. If Senate Bill 30 passes, and this project fails New Hampshire taxpayers will be left holding a $28 million dollar bag of debt, plus interest, payable to a private bank.

Please contact your local state representative, as I have, and ask that they review Senate Bill 30 and make a vote of: inexpedient to legislate.