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NTPUD Nearing Lease Agreement for Event Center

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The North Tahoe Public Utility District is conducting a series of workshops to review the draft final lease with San Francisco-based Laulima Partners for the operation and management of the North Tahoe Event Center. The lease is proposing a public/private partnership whereby the NTPUD would continue to own the facility, while Laulima would operate and manage the event center for a 30-year term, with two 20-year extensions possible. Laulima would commit to renovating the almost 60-year old building at a minimum cost of $5.6 million. Rent would start at $50,000 and gradually rise over a period of 10 years to $165,000. “This is in recognition of the importance of giving them a chance to be successful,” said NTPUD General Manager/CEO Duane Whitelaw. After the 10-year mark, rent increases will be tied to inflation.
 
Whitelaw stresses that the lease requires Laulima to continue community access and affordability, but costs could go up over time.
 
The NTPUD has been losing $90,000 annually in operating the event center, along with paying out an additional $45,000 in subsidies for free events like the yearly Christmas tree lighting.
 
Laulima is also constructing a hotel nearby that covers 4.5 acres on both sides of Highway 28 previously owned by the Ferrari family, including the Ferrari Crown Resort. The project includes 117 lodging rooms, 34 residential units, and 5,500 square feet of commercial space.
 
Laulima representatives will be at the Sept. 7 workshop, held from 5:30 to 7:30 p.m., to answer questions. The final workshop is on Sept. 12 at 5 p.m., where a possible vote could be held. All workshops take place at the event center.
 
Whitelaw encourages interested citizens to visit ntpud.org to read the draft lease and Frequently Asked Questions page with answers provided by staff, pose more questions, and give input to the board. 
 
 
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September 14, 2017