SAM Magazine--Beaver, Utah, November 2, 2009--The defunct Elk Meadows Ski Area is now up for auction on-line at www.lfc.com/820r2. Minimum bid for the 1,100-acre property is $1,000,000 and the suggested value is $5,150,000. The ski area includes 36 trails, two lodges, six lifts and nine condos.

In 2004, Elk Meadows went bankrupt and has remained closed since then. In 2006, CPB Development formed Mount Holly Partners LLC and proposed a $3.5 billion plan to local planning authorities for a Yellowstone Club-style resort at Elk Meadows, which met with local opposition. After receiving conceptual approvals from Beaver Zoning and Planning, the development company was dogged with controversy, including a high-ranking member that was under investigation for fraud and unfair marketing practices. This past summer, Mount Holly Partners filed for bankruptcy protection.

Deadline for the auction is November 20.