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Response to Incorporation of Olympic Valley

 

Reported in the Sierra Sun, a regional news line of the Lake Tahoe, California, area, the proposed incorporation of Olympic Valley lacks support. Reporting firm Rosenow Spevacek Group Inc. returned findings similar to previous results. The Comprehensive Fiscal Report shows a financially unfeasible incorporation of Olympic Valley based on the proposal of the towns main income: a water park. Primarily using the town to attract tourists to the area, costs to operate the town plans would not provide a logical investment. Rosenow Spevacek Group Inc., instructed to amend the first initial report, could not make the numbers add up, even with recommend changes from multiple sources.

Incorporate Olympic Valley supports the incorporation of Olympic Valley. Initially, Incorporate Olympic Valley called the primary report “deeply flawed”. Recommended changes from the support group included lowering the reserve fund amount of the would-be incorporated town. Reducing the number of employees happened to be one of the other recommended changes, and contract prices also incurred reductions. Incorporate Olympic Valley wants to see the project out to the end.

Squaw Valley Ski, a nearby local ski facility, falls against the incorporation of Olympic Valley. Andrew Wirth, CEO of Squaw Valley Ski, confides in the statement of Matthew Newman, Consultant, who thinks the Olympic Valley Comprehensive Fiscal Report seems to use “reasonable assumptions with sound methodology”; they decline the current Olympic Valley plan. Though against the project, Squaw Valley Ski cooperates with support by suggesting changes to help see through the possibility of incorporation. One amendment suggests slowing the pace of construction. Taxes were also considered in the project. Squaw Valley Ski thinks reducing law enforcement coverage in the area would leave a negative impact on the already stable Olympic Valley, but that seemed to be one of the possible ways to reduce costs of the Olympic Valley incorpation.

With the high amount of interest in the project, all means of cost reduction appear to be evaluated. Most of the recommended changes entered into consideration, but they exited the docket soon after. The town of Olympic Valley needs help generating income. CFA Jim Simon signed the secondary Olympic Valley Comprehensive Fiscal Report along with Jane Carlson. Ultimately, the incorporation of Olympic Valley seems not fit to the necessary budget.

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