City and Borough of Juneau Assembly Meeting Agenda April 2026
Juneau Moves to Terminate Goldbelt Gondola Revenue Agreement
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Description
The City and Borough of Juneau is considering an ordinance to direct the City Manager to terminate its revised revenue sharing agreement with Goldbelt, Inc. for the Eaglecrest gondola project. Upon termination, the City would be obligated to repay Goldbelt’s $10 million capital contribution plus interest and any agreed termination fee under the contract within 60 days.
Contract Details
Contract Amount
$10 million capital contribution plus interest at 7% for just under three years (repayment estimated up to $12,200,000)
Vendor
GOLDBELT INC
Agency
Juneau International Airport Board, AK
Contract Type
FINANCIAL_SERVICES
Document Date
April 29, 2026
Contract Term
Revenue sharing agreement signed June 8, 2023; termination requires repayment within 60 days of the effective date of termination ordinance
Renewal Info
Original revenue sharing agreement authorized by Ordinance 2023-08; Ordinance 2026-18 would terminate the agreement rather than renew it, triggering a contractual repayment obligation within 60 days of termination.
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