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The Titus Building in Brickelltown will be the home of the new Artisan's Marketplace in Truckee. Courtesy photo |
CommentsSpot News Briefs: Business
11 March - 7 April 2010
Published: March 11, 2010
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East West Files Bankruptcy
East West Resort Development, a partnership controlled by East West Partners, filed for bankruptcy on Feb. 16, declaring in court documents that its real estate sales have dropped nearly 60 percent and that it was unable to secure the needed funding to maintain properties. The company said that as of Dec. 31, 2009, it had $256 million in assets and between $100 million and $500 million in debt.
The filing includes Old Greenwood, Gray’s Crossing, Northstar Highlands, and the Tahoe Mountain Club, but does not affect the Ritz-Carlton Highlands.
A reorganization plan calls for the company’s majority owner, Barclays Capital, to invest up to $32.5 million to recapitalize the company and also to provide a $10 million loan to fund the bankruptcy.
New Associate at Tahoe Maritime Museum
Melody Rebbeck has joined the staff of the Tahoe Maritime Museum in a newly created position as exhibits and marketing associate. Her responsibilities include managing the exhibits program at both the museum in Homewood and the Annex in Truckee, as well as managing media relations, collateral marketing material, the museum website, and a quarterly newsletter.
Rebbeck, a native of San Jose, lives with her husband, Don, in Truckee. She has been active as a volunteer in the community and was named Citizen of the Year in 2006 by the North Lake Tahoe Resort Association.
Sierra Business Council Seeks Executive
The recent resignation of John Singlaub from the Sierra Business Council has created an opening for a new vice president/chief operating officer. The VP/COO is a full-time, salaried position reporting to the president, responsible for the business and financial administration of the organization. Closing date for applications is March 16. Info: Anna Toso, (530) 582-4800, atoso@sbcouncil.org
Northstar to Host Sunchaser Challenge
The North Lake Tahoe Visitors Bureau and Chamber of Commerce recently secured the Sunchaser Challenge, a multi-discipline adventure challenge set for May 22 at Northstar-at-Tahoe. The Sunchaser Challenge is a unique, green adventure event featuring orienteering, running, mountain biking, road biking, and kayaking. It will be held simultaneously in four time zones across the United States on May 22, including Lake Saranac, New York; Lake Geneva, Wisconsin; and Lake Havasu in Arizona to raise awareness for Endangered Species Day.
“Having 1,000 competitors descend on North Lake Tahoe for three days translates into a potential $2 million in economic impact for the area,” said Tourism Director Andy Chapman of the North Lake Tahoe Resort Association. “That is absolutely great news, especially given the time of the year that this event is scheduled to be held." Info: (877) 949-3296, gotahoenorth.com, sunchaserchallenge.com
Artisan’s Marketplace Set for Brickelltown
A co-op style Artisan’s Marketplace is being organized in Truckee’s Brickelltown in the location formerly occupied by Fair & Green. Local artists, manufacturers, and inventors looking to display their wares for $150 per month are encouraged to join. Discounts may be offered for those willing to help plan and work in the marketplace. Info: Mitch Clarin, 10382 Donner Pass Road, mitch@mitchclarin.com, (530) 308-9124
Homebuyer’s Assistance Drawing in Truckee
A random drawing at Truckee Town Hall on Feb. 18 established the order in which 27 applicants for the First-Time Homebuyers Down Payment Assistance Program will be processed.
The program helps local residents who meet the income eligibility guidelines to purchase market rate homes with reduced up-front costs and/or reduced long-term loan payments. JoAnn Anders, the town’s affordable housing consultant, will begin processing the applications and establishing program eligibility until the funds are expended in accordance with the program guidelines. Info: David Griffith, redevelopment and housing coordinator, dgriffith@townoftruckee.com, (530) 582-2910
North Lake Chamber Honors Businesses, Citizens
The North Lake Tahoe Chamber of Commerce recently announced its 56th Annual Community Service Awards honoring many local businesses and citizens for their outstanding service and dedication to the community. Alex Mourelatos, chair of the North Lake Tahoe Resort Association and owner of Mourelatos Lakeshore Resort, received the prestigious Citizen of the Year award. The Large Business of the Year award went to the Ritz-Carlton Highlands, and Plumas Bank took home Small Business of the Year honors. Non-Profit of the Year was awarded to the Parasol Tahoe Community Foundation, and Madonna Dunbar earned the Positive Environmental Impact Award for her work on the Keep the Sierra Green Awards Program and the Incline Village WASTE NOT program. A complete list of award winners can be found on the chamber’s website. Info: northlaketahoechamber.com
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