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Telemark Lodge Hopes for a Friendly Forclosure on Oct 1

Beautiful Telemark Lodge on a sunny winter day. Photo Credit: Travel Wisconsin

Telemark Lodge has graced the pages of CyclovaXC.com several times over the past year, with most appearances reporting on the demise of the legendary destination resort for xc skiers and cyclists.

To recap, the resort closed back on May 5 after a loan fell through for a group called Telemark Partners LLC to buy the property. Telemark Partners LLC had plans to renovate the property and build an Olympic Training Center there. Since then, Telemark Partners LLC has failed to secure a loan, but according to Ric Ahren (a principal in the partnership), they are still holding out hope to have cash in hand by the foreclosure date of October 1. All of this has left ski and bike event organizers scrambling, either heroically improvising or canceling their events.

Sadly, this we may be approaching the end of the final chapter of the Telemark Interval Owners Association involvement with the lodge. In a meeting on September 11th, the Association overwhelmingly voted to surrender Telemark's Lodge buildings and more than 1000 acres of land to the investor from Missouri who holds the mortgage.

The Telemark Interval Owners Association is hoping for a friendly foreclosure of sorts, which would relieve them of the more than $1.35 in debt and $350,000+ in annual operating expenses.

Where does this leave us xc skiers and cyclists whom frequently have come to call Telemark home during the most memorable times of the year? Well, no one really knows. It seems that everyone has their fingers crossed and is hoping for this all to work out.

According to an interview that the Milwaukee Journal Sentinel did with Ric Ahren, "the transfer of assets to the mortgage holder may simplify the efforts to buy the resort." We can only hope that Ric still has a few tricks up his sleeve and that his loan comes through.

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