Ski area sale comes with donation requirement

Ski area sale comes with donation requirement
Posted at 2:57 PM, Feb 27, 2016
and last updated 2016-02-29 11:15:41-05

BOISE, Idaho (AP) -- The Oregon couple buying an Idaho ski area once owned by Bruce Willis is agreeing to make charitable donations equivalent to the difference between price and market value.

The Times-News reports Matthew and Diane McFerran are working to finalize a purchase agreement for the Soldier Mountain Ski Area, which the actor donated to a nonprofit organization.

The organization subsequently sold it for $149,900, the amount of debt accrued in three years.

Idaho Attorney General Lawrence Wasden's Consumer Protection Division investigated whether Soldier Mountain's charitable assets were priced at the fair market value.

Wasden agreed with ski area officials on a fair market value that was $13,402 higher than the listed sale price.

The couple agreed to donate $13,402 in charitable goods and services before November 2020.