Incorporate Olympic Valley Pulls Out of Deal to Incorporate Squaw Valley

Over the past few years, Andy Wirth, CEO of Squaw Valley, had problems from two areas. The first was that the Lake Tahoe north shore area, where Squaw Valley is located, has had several years worth of drought. The second problem was that Mr. Wirth was in a corporate battle with Olympic Valley to incorporate.

Good news happened in two areas, as well. Recently, there have been early season snow falls and cold temperatures. This means that the resort can be opened for skiing earlier in the season than it has been in past years. Secondly, the backers to incorporate have backed out. Many of these backers are associated with Placer County supervisors. Olympic Valley is a non-profit organization made up of six board members.

If Olympic Valley were incorporated, it would spell possible financial ruin for Andy Wirth because it would drastically increase taxes and that would jack up the price for the people who want to come ski at Squaw Valley. The tax increase would also have a negative effect on residents, businesses, and the services such as snow plowing that the area relies on. Squaw Valley Ski Holdings spent thousands of dollars fighting the corporate takeover. The IOV claimed that Squaw Valley did not want local residents telling them how to run the ski resort. Squaw Valley is more than a ski resort. Many people plan special occasions including weddings.

Squaw Valley has plans of its own. Wirth wants to build a gondola to join Alpine Meadows Ski areas and increase business between the two ski resorts.


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