Duluth Council Forgives Spirit Mountain’s $900K Debt As Part Of Larger Plan
DULUTH, Minn. – The Duluth city council voted Monday to forgive $900,000 of Spirt Mountain’s $1.2 million line of credit after tabling the vote weeks ago.
Councilors Derek Medved and Joel Sipress voted against the resolution.
Mayor Emily Larson has previously said she agrees with the outside consultant’s recommendation to forgive most of Spirit Mountain’s debt to really move forward and potentially attract a future long-term operational lease for facility management.
The $300,000 of the $1.2 million debt will need to be paid back by Spirit Mountain by 2023.
Monday’s vote is part of a larger $24 million plan to invest in Spirit Mountain for a stronger future.