ESTES PARK — Hopes for restoration of the historic Elkhorn Lodge are dimming following the state Economic Development Commission’s denial of tax breaks for the project.

Now that the commission has selected two other projects, the town of Estes Park probably won’t reapply for funding through the Regional Tourism Act, Mayor Bill Pinkham said.

“I think that’s highly unlikely,” he said.

Town officials and business leaders collaborated to request the state funding to restore the lodge, built in 1874, as well as build a year-round ski hill with one chairlift, a zipline, snow tubing course, alpine coaster and performing arts center for a price tag of $50 million. The project was aimed at drawing tourists to Estes Park during its sluggish winter offseason.

The town spent $23,000 for an application to the state under the tourism law, which authorizes tax-increment financing to fund projects that promote tourism coming from outside the state.

But the commission, which can select only two projects, chose Aurora’s Gaylord Hotel and Pueblo’s Riverwalk Entertainment District.

“We were disappointed but not really surprised by the