The developer of the long-awaited rebirth of the Balsams resort in Dixville has told the Coos County Planning Board that it is seeking new sources of investment in the midst of Covid-19.

According to the Berlin Sun, Les Otten of Dixville Capital LLC told the board the pandemic has forced the firm to shift attention away from traditional resort and hospitality investors. It is focusing on attracting what are known as ESG investors, which consider environmental, social and governance factors in analyzing an investment.

Otten said five investors are currently conducting due diligence on the Balsams project, and two of them are actively examining their permits and plans.

Meanwhile, Otten said Dixville Capital has spent more than $11 million on the project to restore the former ski and vacation resort.

That money has gone to permitting, architectural design, project engineering, legal fees, and extensive sales and marketing efforts. The figure does not include land acquisition costs, he said.

“While driving by the Balsams, it may not always be apparent that work remains underway or that meaningful dollars continue to be spent, but I want to assure you that this is continuing,” Otten told the planning board.

Dixville Capital appeared before the board seeking to amend the project’s conditional Planned Unit Development permit for phase 1 to expand the vesting period by five years. Phase 1 calls for redevelopment of the Hampshire and Dix Houses and expansion of the ski area. The current vesting period was set to expire Jan. 18, 2021.

After discussion, the board voted to extend the vesting period by four years. — JEFF FEINGOLD